TechFlow News, May 29: According to cryptocurrency 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. The bill has not yet passed the Senate.
Senate Republican Leader Thune stated that efforts to enact a permanent ban may face resistance from Democrats. Some House Republicans believe that once the ban expires, it could reopen space for the Federal Reserve to explore CBDC development. Fed Chair Kevin Warsh said he would not allow the Fed to proceed with a CBDC—as long as he retains the authority to block it.
