Treasury Secretary Scott Bessent reiterated the Trump administration's firm opposition to a U.S. central bank digital currency during a press briefing on May 29, while also calling on both chambers of Congress to advance the Clarity Act, the primary legislative vehicle for establishing jurisdictional boundaries between SEC and CFTC over digital assets.
For Armada, the no-CBDC stance removes a potential disruptive variable from the tokenized collateral landscape but leaves the field open to private stablecoin and tokenized Treasury products already in Armada's framework. The Clarity Act is more immediately consequential: its passage would clarify whether assets like BTC, ETH, SOL, and HYPE fall under CFTC commodity rules or SEC securities rules, directly affecting how the crypto-repo desk documents collateral eligibility and counterparty agreements.