Despite Trump’s pledge, a CBDC is being explored behind closed doors, says former CTFC chair
A former Commodity Futures Trading Commission (CFTC) chair has revealed that despite President Trump's public opposition to a Central Bank Digital Currency (CBDC), federal agencies continue exploring the digital dollar concept behind closed doors. The unnamed former official disclosed these ongoing discussions during a recent industry conference, suggesting that bureaucratic momentum persists regardless of political rhetoric.
Trump had previously pledged to oppose any CBDC development during his campaign, positioning himself as a defender of traditional financial systems and expressing concerns about government surveillance capabilities. His administration has maintained a public stance against digital currency initiatives that could compete with existing cryptocurrencies or enhance federal monetary control. However, the Federal Reserve and Treasury Department have continued technical research into digital payment infrastructure.
The revelation highlights the tension between political promises and institutional continuity within government agencies. For the cryptocurrency industry, this development creates uncertainty about regulatory direction and potential competition from government-backed digital currencies. Traditional crypto advocates worry that a U.S. CBDC could undermine decentralized alternatives, while others see potential benefits in digital payment modernization.
Market observers will closely monitor any official statements from the Federal Reserve or Treasury Department regarding CBDC research. Congressional hearings on digital currency policy and upcoming regulatory guidance could provide clearer direction on the administration's actual stance versus ongoing bureaucratic activities.
Source: CoinDesk
