Scott Bessent confirmed behind the US Senate that he would become one of the top financial officials of the Donald Trump Government, where he will be one of the people who have already proposed the encryption instructions that Presidents had last week.
Before the billionaire hedge fund manager, Bessent did not provide too much chewing to the cryptocurrency department at the beginning of this month, but he was a famous digital asset enthusiast. His boss Trump has already Allocated him One position in the team is assigned to the federal government towards a friendly supervision system.
The Senate approved the nomination of BESSENT with a vote of 68-29. On Monday night, he officially joined Trump’s cabinet when he was in office to permanently replace his former Janet Yellen. The center of the Trump agenda is the extension of tax cuts. Therefore, the primary task may postpone the cryptocurrency to the list, although the president does include it in his execution command.
Edaho Republican Senator Mike Crapo was confirmed on Monday, the chairman of the President Senate Financial Committee, calling Bessent “one of the keen minds in the global financial industry”, and “his background The training is tailored for this role. “
Trump’s encryption command The Ministry of Finance with BESSENT will play a role in the government working group, and with the support of “the personal professional knowledge of digital assets and digital market leaders”, it has formulated a strategy for the US encryption policy. His department owed a report that owed the White House in less than two months, involving how to modify existing regulations or establish new regulations in the Ministry of Finance, and a wider range of groups must “propose supervision and legislation within six months. proposal”.
He will also be responsible for deleting the former encrypted work directed by former President Joe Biden.
The order also prohibited from working on digital currencies (CBDC) in the Central Bank of the United States. Although it is enthusiastic about adopting and testing in other judicial jurisdictions including China, it has never improved during the tire kick in the United States.
As a nomination, the former commander of Key Square Group Confession of the Senator at his confirmation hearing He saw the idea of ”no reason” pursuing domestic CBDC and further introduced the encrypted insiders who might pursue digital dollars in the government. But he did not question the encryption policy.
Nevertheless, BESSENT is no stranger to digital assets. He hid hundreds of thousands of dollars in personal wealth Enter Bitcoin (BTC) exchange fund (ETF), as his long financial disclosure pointed out. These assets were liquidated when they were nominated by Trump.
In the Ministry of Finance, BESSENT also directs its financial criminal law enforcement network. The network has Law enforcement operation and RulesEspecially involving the so -called hybrid service, trying to make it difficult to track them by integrating transactions to award the user anonymous. The financial crime department of the Ministry of Finance focuses on digital assets as a popular trading method Population trafficking and children’s exploitationEssence
BESSENT’s department also manages US financial sanctionsHistorically Overthile in the federal courtEssence