US Treasury Secretary Opposes Federal Reserve Creating CBDC
- US Treasury Secretary Scott Bessent opposes the Federal Reserve creating a Central Bank Digital Currency (CBDC).
- Bessent testified before the House appropriations subcommittee, calling a CBDC a “sign of weakness.”
- He believes digital assets should remain in the private sector.
- Bessent previously stated that digital currencies are for countries lacking other investment options.
- The Federal Reserve, led by Jerome Powell, has not shown interest in creating a CBDC but supports stablecoin regulations.
Scott Bessent reiterated his opposition to a US Central Bank Digital Currency during testimony, emphasizing that digital assets should be left to the private sector. The Federal Reserve has not pursued creating a CBDC but focuses on regulating stablecoins.
Source (2.6)https://coingape.com/treasury-secretary-scott-bessent-calls-fed-cbdc-sign-of-weakness/?rand=24432
