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Trump administration rejects US central bank digital currency plans
Updated On: 29 May, 2026 02:03 PM IST | Washington | IANS
Instead of supporting a digital dollar, Bessent said the administration favours a regulatory framework designed to encourage private-sector digital assets and stablecoins under US oversight
US Secretary of Treasury Scott Bessent shows a proposed $250 bill featuring President Donald Trump during a press briefing in the Brady Briefing Room of the White House in Washington, DC. Pic/AFP
The Trump administration has ruled out the creation of a US central bank digital currency (CBDC), with Treasury Secretary Scott Bessent arguing that government-issued digital money could become a tool for tracking financial activity and threatening personal freedoms.
At a White House briefing, Bessent said the administration's position on a digital dollar was unequivocal.
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