#U.S. Treasury Secretary Opposes Digital Currency Issuance#
Hot Topic Overview
Overview
U.S. Treasury Secretary nominee Scott Bessent said at his Senate Finance Committee confirmation hearing that he doesn't see a "reason" for the U.S. to have a central bank digital currency (CBDC), arguing that it's something for countries without other investment options. Bessent was positive on cryptocurrency, expressing excitement at the president's embrace of crypto. His comments suggest that there is division within the U.S. government on the matter of issuing a digital currency and that a consensus has not yet been reached.
Ace Hot Topic Analysis
Analysis
U.S. Treasury Secretary nominee Scott Bessent made it clear at his Senate Finance Committee nomination hearing that he does not believe the United States has "any reason" to issue a central bank digital currency (CBDC). He suggested that CBDCs are for countries that do not have other investment options, implying that the U.S. does not need this form of currency. Bessent has taken a positive stance on cryptocurrencies and has previously expressed excitement about the president's acceptance of them. His views stand in contrast to the "2025 Approach" for U.S. digital currency, which advocates that the United States should issue a digital currency. Bessent's remarks have sparked discussion about whether the U.S. should issue a CBDC, and his views also reflect the differing opinions within the U.S. government on digital currency.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The United States has no reason to issue a central bank digital currency (CBDC).
CBDCs are for countries that have no other investment options.
The United States should take a "2025 approach" to issuing digital currency.
The United States should carefully consider issuing digital currency.