PANews reported on May 20th, citing CoinDesk, that former CFTC Chairman Timothy Massad stated that despite the Trump administration's public opposition to central bank digital currencies (CBDCs) and government-backed stablecoins, the launch of a digital dollar or government-backed stablecoin in the United States is "ultimately inevitable." He stated that the White House is already discussing related plans behind closed doors, and the US is also participating in Project Agora, led by the BIS and including seven central banks, to explore CBDC-style settlement infrastructure. Mark Gould, head of the Federal Reserve's payments operations, stated that a digital dollar is currently "out of his purview," but acknowledged that the Federal Reserve would be responsible for its implementation. Massad believes that the global trend of asset tokenization and settlement tokenization will force the US to establish an official on-chain settlement alternative to avoid losing its competitive edge against Europe.