Scott Beesen is scheduled to take office as Minister of Treasury in President Donald Trump’s management team. Bessent will play a major role in implementing the government’s cryptocurrency agenda, which Trump has presented on executive orders last week.
Scott Bessin: The next treasury minister
Bessent, which will be the alternative to Janet Yellen, is expected to lead the federal control in the direction of “Crypto Business”. Although Bessent did not publicly testify during the confirmation session, he is one of the well -known encryption lovers. In fact, BESSENT’s financial disclosure revealed that he invested hundreds of thousands of dollars in the Bitcoin investment fund
The BESSENT Department is assigned to submit a report within two months on how to review the current regulations or whether new rules should be presented. Moreover, the broader group has six months to suggest encryption regulations.
President Trump also provides for the new Treasury Secretary to dismantle the encryption policies that were presented during the era of former President Joe Biden. For example, abolishing the US Central Bank currency (CBDC).
Bessent also expressed his fear of the Convention on Biological Diversity, and he told members of the Senate during his confirmation session that he saw “no reason” to follow up.
Moreover, BESSENT will also supervise the Fincen Inclusion Network, which was active in the encryption application, especially against services that provide anonymity even for cases related to human trafficking and children’s exploitation.
The BESSENT administration will also manage US financial sanctions.
Bessent’s nomination was confirmed on Monday, and it was welcomed by those familiar with both encryption and legislators. Senator Mike Crabo, who heads the Senate Finance Committee, praised the forms of “one of the most severe minds in global financing.” Likewise, the CEO of Ripple Brad Garlinghouse I mentioned “Hell [Bessent] Be an incredible leader for the Americans! “
Also read: Donald Trump signs an executive order to make encryption and create a stock of digital assets
