According to CoinDesk, Scott Bessent, a billionaire of Hedging Fund, was confirmed as the Treasury Secretary nominee by the US Senate with a vote of 68-29. Bessent will succeed former Treasury Secretary Janet Yellen and become the top financial official of the Trump administration.
It is worth noting that Bessent had previously invested personal assets in Bitcoin ETF, but has since cleared these digital assets after being nominated. At the nomination hearing, he explicitly expressed opposition to the issuance of a US CBDC, a stance that has gained recognition in the crypto industry.
According to Trump’s executive order, the Treasury Department led by Bessent will submit a report on the modification of existing regulations within two months and propose regulatory legislation within six months. Mike Crapo, Chairman of the Senate Banking Committee, called Bessent one of the “most astute minds in the global financial industry.”
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