Trump’s Treasury Pick Scott Bessent Rejects Need for a US Digital Dollar

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President-elect Donald Trump’s nominee for Treasury secretary, Scott Bessent, told the Senate Finance Committee on Thursday that the Treasury should refrain creating a central bank digital currency. “I see no reason for the US to have a central bank digital currency. In my mind, a central bank digital currency is for countries who have no other investment alternatives,” Bessent said. He explained that a digital currency is more practical for countries that commonly hold foreign currencies like t...