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Scott Bessent Rejects U.S. CBDC, Signaling Possible Policy Shift
Scott Bessent Rejects U.S. CBDC, Signaling Possible Policy Shift
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Scott Bessent, during his appearance at the Senate Finance Committee, expressed strong opposition to the idea of a U.S. central bank digital currency (CBDC). He argued that a CBDC is unnecessary for the U.S., suggesting it is more suited for countries without diverse investment options. This stance contrasts with ongoing investigations by various federal agencies into the feasibility of a digital dollar. Bessent's potential confirmation as Treasury Secretary on January 20 could significantly impact the direction of federal CBDC research. His views align with former President Trump's previous statements against a U.S. CBDC, indicating a possible policy shift if Bessent assumes office.
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