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BTCC / BTCC Square / Global Cryptocurrency /
Trump’s Treasury Pick Scott Bessent Rejects Need for a US Digital Dollar

Trump’s Treasury Pick Scott Bessent Rejects Need for a US Digital Dollar

Author:
Global Cryptocurrency
Published:
2025-01-17 18:25:01
14
1
President-elect Donald Trump’s nominee for Treasury secretary, Scott Bessent, told the Senate Finance Committee on Thursday that the Treasury should refrain from creating a central bank digital currency. Bessent stated that he sees no reason for the US to have a central bank digital currency, as it is more practical for countries that commonly hold foreign currencies like the Chinese yuan. He added that if you hold US dollars, you can hold a variety of very secure US assets. The US Treasury began exploring the concept of a digital dollar in the early 2020s, and by 2022, its efforts gained momentum.

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