Former CFTC Chair Timothy Massad says a U.S. CBDC is still being discussed privately despite Trump’s public opposition, arguing digital dollar adoption is inevitable

7 central banks and 43 private institutions in Project Agorá are already prototyping tokenized commercial-bank deposits against wholesale central-bank money, with the NY Fed in the room. Retail CBDC is the culture-war decoy; the production path is private stablecoins for users, tokenized deposits for banks, and public money reserved for final settlement. DeFi ends up competing at the compliance-oracle edge: who can prove sanctions/KYC state without leaking positions, and which RWA venues get permissioned settlement access first.

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More coverage

• Timothy G. Massad - Brookings Institution (brookings.edu)
• Commissioner Timothy G. Massad | CFTC (cftc.gov)
• Former CFTC Chair Timothy Massad stated that despite Donald (binance.com)
• [PDF] Written Statement of Timothy G. Massad (democrats-financialservices.house.gov)
• Regulating Digital Assets | Jessica Wachter and Timothy Massad (knowledge.wharton.upenn.edu)

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