Key facts
- Treasury Secretary Scott Bessent stated the Trump administration will not implement a central bank digital currency (CBDC).
- Bessent urged Congress to pass the Digital Asset Market Clarity Act (CLARITY Act) without delay.
- The CLARITY Act has passed the House and advanced through the Senate Banking Committee.
- The administration supports private innovation in digital assets over government-controlled alternatives.
- The CLARITY Act is intended to provide regulatory certainty for the cryptocurrency industry.
Treasury Secretary Scott Bessent has unequivocally stated that the Trump administration will not pursue a central bank digital currency (CBDC), viewing it as a potential tool for tracking.
Speaking at a White House press briefing on May 28, 2026, Bessent also called on Congress to expedite the passage of the Digital Asset Market Clarity Act (CLARITY Act), formally H.R. 3633. This legislation aims to provide regulatory clarity for the burgeoning cryptocurrency industry.
The CLARITY Act previously passed the U.S. House of Representatives in July 2025 with broad bipartisan support. More recently, on May 14, 2026, the Senate Banking Committee voted to advance the bill, which has since been placed on the Senate Legislative Calendar. However, it requires 60 votes to overcome a potential filibuster, and the Senate has a limited timeframe before its August recess to consider it.
Bessent's remarks underscore the administration's preference for private sector innovation in digital assets over government-controlled alternatives, such as a CBDC. The Treasury's stance favors the development of private stablecoins and tokenized real-world assets as the future of the U.S. dollar's digital presence. The CLARITY Act is seen as a crucial step in establishing a favorable regulatory environment for exchanges, custodians, and stablecoin issuers.