Scott Bessent Opposes U.S. Central Bank Digital Currency
- Scott Bessent, Trump’s Treasury Secretary nominee, opposes a U.S. central bank digital currency (CBDC).
- Bessent’s stance aligns with Trump’s promise to prevent a U.S. CBDC.
- The House passed the Anti-Surveillance State Act in May 2024 to restrict Federal Reserve banks from issuing digital currencies.
- 134 countries, representing 98% of global GDP, are exploring CBDCs.
- China has tested its digital yuan at events like the 2022 Olympics.
Bessent’s rejection of a U.S. CBDC aligns with broader Republican opposition and follows legislative moves like the Anti-Surveillance State Act. Meanwhile, other countries continue to explore CBDCs actively.
