#Treasury Secretary nominee to sell crypto assets#

President-elect Trump's nominee for Treasury Secretary, Scott Bessent, will sell his holdings of crypto assets to avoid conflicts of interest. According to Bessent's personal financial disclosure, he holds an iShares exchange-traded fund tied to the price of bitcoin valued at less than $500,000. To avoid conflicts of interest, Bessent will sell his stake in Key Square Group, including ETFs related to cryptocurrencies, within 90 days of being confirmed by the Senate. Bessent will also resign from his position at Key Square Group and divest his investments in other funds that allow him to withdraw no more than 25% of his holdings on a quarterly basis. Bessent said he would recuse himself from any specific decisions that could predictably impact stock values. Bessent's personal financial disclosure also shows that he owns residential real estate in the Bahamas worth at least $5 million and an art and antique collection worth at least $1 million.