This CBDC issue has again become hot in US politics,and on May 29, 2026 ,Trump administration made its stand very clear . No government-issued digital dollar,at least from their side.
During White House briefing,Treasury Secretary Scott Bessent said administration is firmly against creation of US central bank digital currency (CBDC) . And honestly,his main worry is not tech part,but control part .
Bessent stated,"This administration has been very clear there will be no central bank digital currency," and that line itself shows there is not much middle ground here . For him,CBDC could become one system where government gets too much visibility into people's financial lives.
And tbh,this is where debate becomes uncomfortable . Digital payments are already everywhere,but government-issued digital money feels different to many people because it can raise questions about tracking,privacy and personal freedom.
He also remarked,"I think that would be the first step toward tracking," while warning that CBDC could increase government oversight over private financial activities . That is not small concern ah,especially when money movement already says so much about person .
Few points standing out from Bessent's comments:
- Administration prefers regulatory framework encouraging private digital assets and stablecoins.
- CLARITY Act is currently under consideration in Congress for clearer regulations.
- Bessent wants digital assets brought under US jurisdiction for better standards .
At same time,administration is not saying no to all digital assets . It seems more interested in private sector assets,stablecoins and rules that keep activity inside US system instead of offshore markets.
Bessent said,"The most important thing we can do is to make digital assets come into United States,make the US the home." He also criticized offshore unregulated activity as "wild, wild west" of digital assets . And that part makes sense because when money goes outside proper oversight,ordinary users usually carry biggest risk .
He urged Congress to pass legislation for clearer framework,arguing that it can support innovation and consumer protection both . But question still stays open… if US blocks CBDC but supports private digital money,who really gets control over future of finance then?
