The U.S. Treasury, under the Trump administration, has officially ruled out the development of a central bank digital currency (CBDC), emphasizing a focus on stablecoin legislation instead. Treasury Secretary Scott Bessent confirmed the administration's stance, highlighting concerns over state surveillance as a key reason for rejecting CBDC initiatives. The Senate has also passed legislation banning CBDC development until 2030. Bessent stated that the administration is prioritizing the CLARITY Act to encourage crypto investments in the U.S. Meanwhile, the global landscape shows that while 91% of central banks were exploring CBDCs by late 2025, several countries, including the U.S., have canceled their plans. Only four countries have launched CBDCs, with others still in research or pilot phases.