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Treasury opposes Fed CBDC, says outbound investment screening is underway
Summary
Secretary Bissett told the subcommittee he opposes a Federal Reserve central bank digital currency and described an "outbound security" program that is beginning to give the administration visibility on U.S. investments involving China; members sought commitments on enforcement and timelines.
Representative Edwards asked Treasury about central bank digital currency (CBDC) and whether the administration supports legislation to block a Fed‑issued CBDC. Secretary Scott Bissett said the administration prefers digital assets to remain in the private sector and called a CBDC "a sign of weakness, not strength." He added, "No, sir" when asked whether he supports the Federal…
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