Hagerty Calls CBDC Incompatible With Freedom, Discusses U.S. Bitcoin Reserve

U.S. Sen. Bill Hagerty called a central bank digital currency (CBDC) incompatible with freedom and discussed expansion of the U.S. strategic Bitcoin (BTC) reserve and related policy issues in an interview.

He said some members of Congress view a CBDC as the only answer to the crypto industry. Hagerty also argued that regulatory ambiguity gave former SEC Chair Gary Gensler room to take enforcement action against crypto companies. He said lighter government oversight can support innovation.

The legislative discussion included next steps for the Clarity Act and debates involving Democrats, ethics provisions and stablecoin rewards. The interview also examined how the SEC and Commodity Futures Trading Commission (CFTC) divide oversight in the absence of congressional legislation, as well as the GENIUS Act’s effects on payments and settlement. Hagerty discussed stablecoin demand in relation to U.S. Treasury securities and the dollar’s global role.

The reserve discussion covered expansion and issues involving 200,000 Bitcoin. Other subjects included public concerns about crypto, Bitcoin mining, the Tennessee Valley Authority (TVA), and Tennessee’s energy buildout. Hagerty also addressed Nashville’s Bitcoin businesses and legislation Congress could advance before a new session in January.