CFTC Chairman Selig: The U.S. Will Never Launch a Central Bank Digital Currency
CFTC Chairman Mike Selig stated that under the supervision of the U.S. Presidential Working Group on Digital Assets, the U.S. will never launch a central bank digital currency.
Source: Public Information
ABAB AI Insight
As CFTC Chairman, Mike Selig has emphasized the commodity nature and market innovation in cryptocurrency regulation discussions. This statement continues the Trump administration's preference for decentralization and private innovation, echoing previous opposition to excessive digitization by the Fed.
In terms of capital pathways, the working group guides resources towards private stablecoins and blockchain infrastructure rather than government-issued CBDCs, avoiding direct competition between central banks and commercial bank deposits, strategically protecting existing financial intermediaries and encouraging market-driven payment innovation.
Similar to the past Fed's opposition to the Libra project and the cautious advancement of the digital euro by some European countries, the U.S. is currently in a phase where the regulatory framework prioritizes private crypto assets over national currency digitization.
This essentially represents a regulatory shift: by explicitly excluding CBDCs, pricing power shifts from potential central bank monopolies to private issuers and exchanges, stemming from a political philosophy wary of government expansion and protecting the dollar's hegemony from internal digital competition.
ABAB News · Cognitive Law
National currency digitization leads to power concentration rather than efficiency improvement.
Rejecting CBDCs embraces private innovation, with regulatory boundaries determining capital flows.
Political stance precedes technological possibilities, as the working group defines what constitutes "the future of U.S. digital assets."