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Trump Treasury Pick Scott Bessent Opposes US CBDC, Says No Need for Digital Dollar
Trump Treasury Pick Scott Bessent Opposes US CBDC, Says No Need for Digital Dollar
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President-elect Donald Trump’s nominee for Treasury Secretary, Scott Bessent, has expressed strong opposition to the concept of a U.S. central bank digital currency (CBDC) during his nomination hearing. Bessent, a hedge fund manager, told the Senate Finance Committee that the Federal Reserve should refrain from issuing a digital dollar, citing concerns of government overreach into the digital asset space. He also reiterated his support for a more progressive approach to cryptocurrency regulation. This stance aligns with the views of many in the crypto industry who are wary of the implications of a government-backed digital currency.
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