U.S. Treasury Secretary Scott Bessent has again dismissed the idea of a central bank digital currency (CBDC), saying the Trump administration will not allow a digital dollar while pushing for broader crypto regulation in the United States.
Speaking during a White House press briefing on Thursday, Bessent said a CBDC is “off the table,” arguing that such a system could increase government tracking of financial activity. Instead, he said the administration wants to focus on bringing the digital asset industry into the U.S. financial system through regulation.
“This administration has been very clear, there will be no central bank digital currency,”
Bessent said.
“The most important thing we could do is to make digital assets come into the United States.”
Eleanor Terrett highlights 2030 CBDC ban deadline
The debate over a future U.S. CBDC intensified after a journalist noted that the House-passed ROAD to Housing Act includes only a temporary ban on a Federal Reserve-issued CBDC.
Treasury Secretary @SecScottBessent reiterated today that there will be no CBDC under the Trump administration.
However, it’s worth noting that the House-passed ROAD to Housing Act includes a temporary ban on a Fed-issued CBDC that expires in December 2030. That bill has yet to… https://t.co/PxAeiApjyK
— Eleanor Terrett (@EleanorTerrett) May 28, 2026
According to Terrett, the restriction is set to expire in December 2030, raising concerns among some Republican lawmakers that the deadline could eventually reopen discussions around a digital dollar. The Senate Majority Leader has reportedly indicated that attempts to make the ban permanent may face resistance from Democrats.
Terrett also noted that the Federal Reserve Chair has opposed moving toward a CBDC during his term. However, the proposed ban expires in the same year his first term is expected to end.
Clarity Act gains attention in Congress
Bessent also renewed calls for Congress to pass the Clarity Act, which is designed to create clearer rules for the digital asset industry.
The Treasury Secretary argued that many of the problems linked to crypto stem from companies operating offshore without proper oversight. He said bringing the industry under U.S. regulation would help reduce risks and improve transparency.
The Clarity Act recently moved through the Senate Banking Committee after delays caused by disagreements between banking groups and crypto advocates over stablecoin rewards and ethics provisions.
Clarity Act is still facing hurdles
While crypto legislation is gaining momentum, analysts believe the Clarity Act still faces major political obstacles before becoming law. TD Cowen analyst Jaret Seiberg said Democrats may demand stronger conflict-of-interest rules connected to the U.S. president before backing the bill.
President Trump has also continued to publicly support the crypto industry, recently stating that his administration intends to create a “future-proof” digital asset framework that cannot easily be reversed by future governments.
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