Bessent Rejects US CBDC, Pushes for CLARITY Act Passage

Treasury Secretary Scott Bessent has reinforced the Trump administration's pro-crypto agenda by rejecting the idea of a central bank digital currency (CBDC).

Bessent stated that introducing a CBDC could lead to financial surveillance and is not in line with the administration's emphasis on financial privacy and private-sector innovation.

The Treasury Secretary also reiterated his call for lawmakers to pass the CLARITY Act, which aims to establish a clear regulatory framework for digital assets. The legislation has already passed the House and cleared the Senate Banking Committee but still needs 60 votes to overcome the Senate filibuster before August recess.

The administration's stance on CBDCs aligns with its support for private stablecoins and tokenized real-world assets as the foundation of the U.S. digital financial system, rather than a government-issued digital dollar.