The U.S. Senate has confirmed Scott Bessent, a known cryptocurrency supporter, as the new Treasury secretary. Bessent, a billionaire hedge fund manager, has voiced strong support for the crypto industry, calling it “here to stay” and opposing the idea of a U.S. central bank digital currency. Bessent will also join the “Presidential Working Group on Digital Asset Markets,” tasked with creating a federal framework for regulating digital assets and exploring a national digital assets stockpile. However, Ripple CEO Brad Garlinghouse congratulated Bessent, expressing confidence in his ability to promote innovation in crypto and technology. As Treasury secretary, Bessent is expected to align with Trump’s economic policies, which include tariff reforms and tax cuts.
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