Trump Admin Blocks US Central Bank Digital Currency

US Treasury Secretary Scott Bessent reaffirmed that the Trump administration will not allow the creation of a central bank digital currency (CBDC) in the United States.

Bessent stated that a CBDC is 'off the table,' framing it as a potential tool for financial tracking and surveillance.

The House-backed CBDC ban, which expires in December 2030, has raised concerns among Republicans.

Bessent also urged Congress to pass the CLARITY Act, which aims to establish clear rules for digital assets, stablecoin issuers, and crypto trading activity within the US regulatory system rather than relying on offshore markets.