Bessent Says No CBDC, Urges Congress to Pass CLARITY Act

Highlights:

• Bessent says CBDC plans remain outside Trump’s crypto agenda.
• Treasury wants digital asset activity to move into the United States. 
• The CLARITY Act remains central to Washington’s crypto rulemaking push.

U.S. Treasury Secretary Scott Bessent has renewed the Trump administration’s opposition to CBDC, while urging Congress to move faster on digital asset rules. His comments came at a White House press briefing on Thursday, where he said the administration has no plan to support a central bank digital currency.

Bessent said the administration wants digital asset firms to build and operate in the United States. However, he argued that a central bank digital currency would move policy in the wrong direction. He said such a system could become “the first step toward tracking.”

Bessent Keeps CBDC Off The Table

Bessent said that a CBDC no longer sits inside the administration’s policy plans. He said officials had “taken that off the table” and placed their focus elsewhere. The Treasury now points lawmakers toward market rules, stablecoin oversight, exchange operators, and domestic crypto activity.

.@SecScottBessent: "This Administration's been very clear. There will be no Central Bank Digital Currency, which I think would be the first step toward tracking… the most important thing we could do is to make digital assets come into the United States." pic.twitter.com/KoFSZszhTl

— Rapid Response 47 (@RapidResponse47) May 28, 2026

Bessent framed the issue as a question of market strength. He said some countries may need central bank digital money because they lack deep investment choices. However, he argued that America already has strong public capital markets, payment rails, and private-sector finance.

Bessent made a similar point during his January nomination hearing. During that hearing, Bessent said he saw no reason for the United States to create one.

Treasury Links Crypto Rules To Onshore Growth

Bessent also used the briefing to push Congress toward the CLARITY Act. He said offshore activity has created many problems that now shape public views of crypto. Moreover, he described parts of the global market as a “wild, wild west” that needs US oversight.

The Treasury secretary said lawmakers should create rules that encourage firms to return onshore. In his view, clear rules could reduce risks while keeping digital asset innovation inside the country. Additionally, he said the government should make digital assets “come into the United States.”

In April, Bessent pressed Congress through public writing. In a Wall Street Journal opinion piece, he said lawmakers should act before floor time runs short. He also noted that digital assets had become a $3 trillion market, with nearly one in six Americans holding them. Meanwhile, Republican lawmakers have also opposed a digital dollar for similar privacy reasons. Recently, they argued that a government-issued token could increase state access to payment data.

Congress Faces Fresh Pressure on Clarity Bill

The CLARITY Act has gained fresh attention after months of delays. The bill aims to set rules for digital asset markets, token activity, and oversight gaps. However, its path still depends on timing, negotiations, and support from lawmakers across both parties.

The Senate Banking Committee advanced the bill earlier this month after disputes slowed earlier talks. Banking groups and crypto firms clashed over stablecoin rewards, yield products, and related consumer issues. Bessent has argued that Congress should move quickly because Senate floor time remains limited. 

Today, Chairman @SenatorTimScott led Banking Committee Republicans and Democrats in a historic bipartisan markup to advance to Clarity Act, legislation that will establish clear rules of the road for digital assets. pic.twitter.com/FujDX2GnAd

— U.S. Senate Banking Committee GOP (@BankingGOP) May 14, 2026

President Donald Trump has also backed the legislative push. In a Truth Social post on Wednesday, he said his administration wants a “future-proof” market structure. He added that future officials should not easily reverse the framework. Trump signed the GENIUS Act last year with bipartisan support, creating federal rules for payment stablecoins.