Markets Will Choose US-Regulated Stablecoins Over CBDCs ‘All Day, Every Day,’ Says Treasury Secretary Scott Bessent

Description

U.S. Treasury Secretary Scott Bessent is confident that people around the world are going to choose stablecoins over central bank digital currencies (CBDCs). In a new interview with Bloomberg, Bessent says the stablecoin sector creates an “exciting new payment rail.” “And importantly, it will be a source of demand for the US Treasury market, because if you think about it, in terms of preference globally, would you rather have a private stablecoin that’s backed by US Treasuries with US best pract...