The post The United States is unfocused on CBDCs appeared on BitcoinEthereumNews.com.

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. In the United States, over the course of several years, policymakers have studied, debated, and issued multiple reports on whether the Federal Reserve Bank should create a central bank digital currency—a “digital dollar” without reaching a definitive course of action. CBDCs are digital versions of traditional paper fiat currencies backed by governments and issued to promote economic inclusion and broader access to financial services with tokenized payment efficiency. CBCDs improve monetary policy in global payment systems in lieu of the increase in tokenized electronic payments and the decline in the use of cash by providing accountability and stability. They mitigate the risk of financial instability arising from the creation of unregulated private electronic payment instruments, such as meme/altcoins, tokenized assets or stablecoins, and corruption.  There are two types of CBDCs. A retail CBDC is used by the general public, and a wholesale CBDC is exclusively designed for interbank payments and securities transactions.  Vivek Raman, CEO of Etherealize.io, which connects financial institutions to the largest, secure, and open blockchain eco-friendly Ethereum ecosystem around the world told me: “We don’t believe a CBDC will happen in the US under the new administration. A CBDC goes against the principles of decentralization and freedom, and it is better to have a marketplace of stablecoins and tokenized assets.”  The US CBDC ban On Jan. 16, President Donald Trump’s Treasury nominee, Scott Bessent, who has since been confirmed as the 79th United States Secretary of the Treasury, testified before the Senate Finance Committee strongly opposing the introduction of a CBDC in the US. “I see no reason for the US to have a CBDC,” citing privacy and economic concerns. Following Scott Bessent’s announcement,…

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Filed under: News - @ March 9, 2025 12:18 pm