US Treasury Reaffirms No CBDC Policy Under Trump Administration

U.S. Treasury Secretary Scott Bessent has once again confirmed that a central bank digital currency (CBDC) will not move forward under the Trump administration. During a White House briefing, Bessent said a government-issued digital dollar is “off the table,” repeating concerns that such a system could increase financial monitoring of citizens.

A CBDC refers to a digital version of national currency issued directly by a country’s central bank. Critics in the United States have argued that it could create privacy concerns by allowing greater oversight of transactions.

Focus Shifts Toward Digital Asset Growth

Instead of supporting a CBDC, the administration is pushing for stronger growth in digital assets and regulated crypto businesses within the United States. Bessent said bringing crypto activity onshore could reduce risks tied to loosely regulated offshore markets.

He also highlighted recent progress in crypto legislation, including the GENIUS stablecoin bill and the Clarity Act, which aims to create clearer rules for digital assets.

Although the Clarity Act has gained momentum in Congress, analysts say the legislation still faces political hurdles before final approval, including ongoing debate over ethics and oversight standards.