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The US Senate verified on January 27, the appointment of Scott Bessnt, the manager of the therapeutic fund and the boiling defender of the cryptocurrencies, in the strategic position of the Minister of Finance. This choice, supported by Donald Trump, represents a potential turning point in the economic and crypto of the United States.
Scott Bessnt will take over from Janet Yellen to the Secretary Place to the American Treasury
On January 27, 2025, the US Senate confirmed Scott Bessnt as a secretary of the Ministry of Finance, followed by Janet Yellen. This appointment reflects the pro-crito strategy of Trump’s administration.
Influential data such as Brad Garlinghouse, Ripple CEO, appreciated this option and confirmed their confidence in stimulating the technological and crypto innovation in the United States.
In this position, Bessnt will supervise the market with a gigantic debt of $ 28,000 billion and will play a central role in fiscal policy and financial regulations. During the confirmation hearing, his statement confirmed his support for the development of cryptos, thereby strengthening the expectations of a favorable regulatory framework.
This appointment is part of a wider dynamics. Trump’s Administration recently strengthened its obligation to crypts, especially with a decree of 23 January, which entrusts the treasury a key role in the working group responsible for defining the national strategy in terms of crypto policy.
Assertive vision pro-krypto
During his meeting before the Senate Financial Committee, Bessnt clearly revealed his position on the sector’s fundamental issues. The new secretary, at the age of 62, especially opposed the development of the digital currency of the US central bank (CBDC) and aligned his position with President Trump.
” I see no reason for the United States to have a Central Banking Currency“He said on January 16 and added that CBDC are more suitable for countries that lack the investment alternatives. This position reflects his liberal vision of the market crypto, which he considers “synonym with freedom”.
In an interview with Fox Business in July, Bessnt has already expressed its enthusiasm for crypto adoption and emphasized their proportionality by the values of the Republican Party and their sustainability in the modern economy.
In short, the new secretary of the Ministry of Finance joined the government working group dedicated to the cryptocurrencies, along with David Sacks, responsible for artificial intelligence and cryptos and Presidents of SEC and CFTC. This configuration indicates the significant development of crypto regulation in the United States, potentially more favorable for the innovation and development of the sector.
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Passionate Bitcoin, I like to explore meanders blockchain and cryptos and share my discoveries with the community. My dream is to live in a world where privacy and financial freedom is guaranteed for everyone, and I firmly believe that Bitcoin is a tool that can make it possible.
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The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.