Former CFTC Chair Timothy Massad has indicated that research and exploration of a US central bank digital currency is continuing in private channels, even as the Trump administration has publicly opposed the concept. Massad, who led the Commodity Futures Trading Commission under President Obama, suggested the work is not as dormant as official rhetoric implies.
The tension between public political posture and behind-the-scenes policy development is a recurring feature of CBDC debates globally. Trump signed an executive order early in his second term explicitly prohibiting the promotion or issuance of a US CBDC, framing it as a threat to financial privacy — yet Massad's remarks suggest institutional interest has not fully receded.
For markets, the signal is one of policy ambiguity rather than resolution. A future administration could accelerate a CBDC framework that is already…
Frequently asked questions
-
What specific actions are being taken in the exploration of a US CBDC?
The exploration of a US CBDC is ongoing in private channels, though specific actions were not detailed by Massad.
-
How does Trump's executive order impact the development of a US CBDC?
Trump's executive order prohibits the promotion or issuance of a US CBDC, framing it as a threat to financial privacy, but exploration continues despite this.
TheBlock
CoinDesk
WuBlockchain
WatcherGuru