Trump Treasury Nominee Bessent Expresses Opposition to U.S. CBDC

During the nomination hearing for Treasury Secretary, Scott Bessent expressed strong opposition to a U.S. central bank digital currency (CBDC). Key points from the hearing include:

Bessent stated there is no need for a U.S. CBDC, asserting it is suitable only for countries lacking investment alternatives.
He highlighted that many countries pursuing CBDCs do so out of necessity, unlike the U.S.
Bessent emphasized a modern approach to digital currencies, particularly in relation to terrorist financing, advocating for a 2025 perspective.
The sentiment was supported by the crypto-backed Ceder Innovation Foundation, criticizing outdated political views on digital innovation.
Following his nomination acceptance, Bessent divested from a bitcoin exchange-traded fund, reinforcing his commitment to pro-crypto policies.
In July, he stated that "Crypto is about freedom and the crypto economy is here to stay."