Paxos’ clearing arm PSSC has been approved by the SEC as the first blockchain-based clearing and settlement agency in the US. The move breaks DTCC's monopoly and opens the door for blockchain in traditional capital markets.
Kevin Warsh told senators that digital assets are already part of U.S. financial services and should be integrated with safeguards, while calling a U.S. CBDC a bad policy choice.
U.S. Treasury Secretary Scott Bessent reiterated the Trump administration's opposition to a CBDC and urged Congress to pass the CLARITY Act to bring digital asset activity onshore. Republican lawmakers are pushing permanent bans on Fed-issued CBDCs, but the bill faces industry hurdles.
South Carolina Governor signs S.163, protecting crypto payments, self-custody, and mining, while banning state agencies from CBDC participation, positioning the state as a top crypto-friendly jurisdiction.
A U.S. Senate housing bill bars the Federal Reserve from issuing or facilitating a retail CBDC until the end of 2030, including substantially similar digital assets.
By 2026, roughly 134 to 146 countries explore CBDCs, but the US bans its retail digital dollar while Europe and China advance. The retail vs wholesale divide deepens, and cross-border projects aim to bypass dollar dominance.
At a Senate hearing, Kevin Warsh said digital assets are already part of U.S. finance and supported their integration, while rejecting a U.S. CBDC as a bad policy choice.
Congress is split over a Senate housing bill provision that would let a CBDC ban expire in 2030. Ted Cruz has proposed an amendment to remove the sunset clause and make the restriction permanent.
