Trump's Treasury Pick Scott Bessent Pours Cold Water on US Digital Dollar Initiative

Quick Summary:

Scott Bessent told the Senate he saw 'no reason' for the U.S.to pursue a central bank digital currency, aligning with Trump's past comments.

If Bessent is confirmed as Treasury Secretary when Trump is sworn into office on January 20, a potential reversal of the federal government's CBDC research initiatives could be in play.

Bessent's statements at the Senate confirmation hearing align with Trump's promise, made exactly a year ago, to "never allow" a U.S.CBDC if reelected.

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Article Details

Author / Journalist: Vince Dioquino

Category: Crypto

Markets: EstoniaChina

Topics: Coins Scott Bessent Regulation CBDC

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-17 @ 04:33:20 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 565 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 25211998

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About Decrypt

Main Topics: Crypto

Official Website: decrypt.co

Update Frequency: 4 posts per day

Year Established: 2018

Headquarters: Estonia

News Last Updated: 10 hours ago

Coverage Areas: Estonia

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Publisher ID: #63

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