U.S. Treasury Secretary Reiterates That No Central Bank Digital Currency Will Be Launched During the Trump Administration; House Temporary Ban Set to Expire in 2030

According to crypto journalist Eleanor Terrett, U.S. Treasury Secretary Scott Bessent reiterated today that the Trump administration will not launch a central bank digital currency (CBDC). However, the House-passed “ROAD to Housing Act” includes only a temporary ban on the Federal Reserve issuing a CBDC; this ban expires in December 2030, and the bill has not yet passed the Senate. Senate Republican Leader Thune stated that efforts to enact a permanent ban may face Democratic resistance. Some House Republicans believe the expiration of the ban could reopen space for the Fed to explore CBDCs. Fed Chair Kevin Warsh said he would not allow the Fed to advance a CBDC—as long as he retains the authority to block it.