U.S. Treasury Secretary Reiterates Trump Administration Will Not Launch a Central Bank Digital Currency, House Temporary Ban to Expire in 2030

BlockBeats News, May 29, According to crypto journalist Eleanor Terrett, U.S. Treasury Secretary Scott Bessent reiterated today that the Trump administration will not issue a central bank digital currency (CBDC) during his tenure. However, the House has passed the "ROAD to Housing Act," which only includes a temporary ban on the Fed issuing a CBDC. This ban is set to expire in December 2030, and the bill has not yet passed in the Senate.

Senate Republican leader Thune stated that efforts to impose a permanent ban may face Democratic resistance. Some House Republicans believe that the expiration of the ban may reopen the Fed's exploration of CBDC. Fed Chair Kevin Warsh has stated that as long as he has the power to stop it, he will not allow the Fed to proceed with a CBDC.