{"id":20397,"date":"2025-01-17T10:59:55","date_gmt":"2025-01-17T08:59:55","guid":{"rendered":"https:\/\/forklog.com\/en\/us-treasury-nominee-opposes-a-cbdc\/"},"modified":"2025-01-17T10:59:55","modified_gmt":"2025-01-17T08:59:55","slug":"us-treasury-nominee-opposes-a-cbdc","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-treasury-nominee-opposes-a-cbdc\/","title":{"rendered":"US Treasury nominee opposes a CBDC"},"content":{"rendered":"<p>Scott Bessent, the nominee for US Treasury secretary, spoke out against introducing a CBDC.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"LIVE: Scott Bessent\u2019s confirmation hearing for the Treasury Department\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/ZwpdXiKG0Cg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I do not see any point for the United States to have a central bank digital currency. In my opinion, a CBDC is intended for countries that have no other investment alternatives,&#8221; he said at a Senate hearing.<\/p>\n<\/blockquote>\n<p>Bessent \u2014 co-founder of Key Square Capital Management and former chief investment officer at George Soros\u2019s Soros Capital Management \u2014 is among the prospective <a href=\"https:\/\/u1f987.com\/en\/news\/donald-trump-expands-cryptocurrency-advocates-in-prospective-administration\">crypto advocates<\/a> in the incoming presidential administration. <\/p>\n<p>His stance aligns with the views of <a href=\"https:\/\/u1f987.com\/en\/news\/donald-trump-vows-to-block-cbdc-in-the-us\">Donald Trump<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/us-senators-renew-efforts-to-ban-cbdc-over-privacy-concerns\">several other American politicians<\/a>, who argue a digital dollar is unnecessary and potentially harmful.<\/p>\n<p>In 2022, the <span data-descr=\"United States Federal Reserve System\" class=\"old_tooltip\">Federal Reserve<\/span> released a report on the prospects and risks of a CBDC. It concluded that such an instrument could aid cross-border payments and improve access to financial services, but did not deem a launch necessary.<\/p>\n<p>Back in 2020, Fed chair Jerome Powell stressed that, for the United States, finding the right approach to a digital dollar mattered more than being the first country to issue a CBDC.<\/p>\n<p>In May 2024, the US House of Representatives <a href=\"https:\/\/u1f987.com\/en\/news\/us-house-of-representatives-backs-bill-against-cbdcs\">banned<\/a> the Federal Reserve from offering a CBDC to individuals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Scott Bessent, the nominee for US Treasury secretary, spoke out against introducing a CBDC. &#8220;I do not see any point for the United States to have a central bank digital currency. In my opinion, a CBDC is intended for countries that have no other investment alternatives,&#8221; he said at a Senate hearing. Bessent \u2014 co-founder [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20396,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,36,26],"class_list":["post-20397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=20397"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20397\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/20396"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=20397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=20397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=20397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}