By confirming the US Senate behind him, Scott Bessent is in place to be the supreme financial official of President Donald Trump, as he will be among those who meet the encryption directions that the president has already set last week.
BESSENT, the former hedge fund manager, did not provide the encryption sector much to chew during the nomination session earlier this month, but is enthusiastic about the well -known digital assets. His boss, Trump, has already he has cost A spot in the team designated for Marshall, the federal government towards a friendly system of supervision.
The Senate voted 68-29 to agree to the Bess’s nomination on Monday evening, and it will formally join the Trump government when he swore on the predecessor Janet Yellen permanently. At Trump’s agenda center is the extension of tax cuts, so that the maximum priority may lead to the encryption to the bottom of the list, although the president included him from opening executive orders.
Senator Mike Crabo, a Republican in the state of Idaho, heads the Senate Finance Committee, “Psin” is one of the most severe minds in the global financing industry “before the Monday’s assertion, saying” his background and training is specially designed for this role. “
Trump’s encryption order will have a Bessent treasury in a government working group – backed by “individual experience from leaders in digital assets and digital markets” – to produce the American encryption policy strategy. His management is among those who will condemn the White House a report in less than two months on how to modify the current regulations or create new regulations in the cabinet, and the broader group must “recommend organizational and legislative proposals” within six months.
He will also be responsible for erasing his predecessor encryption, which was directed by former President Joe Biden.
It is also prohibited to work on the US Central Bank of Bank (CBDC), which has never advanced until after kicking in the United States, despite the adoption and testing enthusiastic by other judicial states, including China.
As a candidate, the head of the Key Square Square group told members of the Senate in his confirmation session that there is “no reason” to follow the local CBDC idea, which increases its love for those familiar with the encryption who were concerned that the government might follow the digital government. But he was not interrogated about encryption policies.
However, bessent is not strange to digital assets. Hundreds of thousands of dollars have placed his personal wealth in the Bitcoin (BTC) trading fund (ETF), as mentioned in his long financial disclosure. These assets were filtered when Trump’s nomination was received.
In the Treasury, Bessent is also in leading the financial crime enforcement network that has followed encryption services through procedures for enforcement and manufacture of rules, especially with the so -called mixing services that seek to give users not to disclose their identity by mixing their transactions to make it difficult to track. The financial crimes arm focused on the Ministry of Treasury on digital assets as a common way to transactions in human trafficking and exploitation of children.
In addition, the BESSENT administration runs US financial sanctions, which historically granted that the federal government reach activity abroad, such as when Mixer Tornado Cash targeted recently transferred sanctions in the Federal Court.
Read: Trump issued an executive encryption order to pave the course of our digital assets
