“US Treasury Secretary nominee Scott Bessent has spoken out against the implementation of CBDC. “I don’t see the point for the US to have a central bank digital currency. In my opinion, CBDC is intended for countries that have no other investment alternatives,” he said at the Senate meeting. Bessent, co-founder of Key Square Capital Management and former chief investment officer of George Soros’ Soros Capital Management, is one of the alleged proponents of cryptocurrencies […]”, — write: businessua.com.ua
US Treasury Secretary nominee Scott Bessent has spoken out against the implementation of CBDC.
“I don’t see the point for the US to have a central bank digital currency. In my opinion, CBDC is intended for countries that have no other investment alternatives,” he said at the Senate meeting.
Bessent is the co-founder of Key Square Capital Management and the former chief investment officer of George Soros’ Soros Capital Management, one of the presumptive proponents of cryptocurrencies in the incoming presidential administration.
His position is consistent with the opinions of Donald Trump and a number of other American politicians about the impracticality and potential harm of implementing the digital dollar.
In 2022 Fed presented a report on the prospects and risks of CBDC. Experts concluded that such a tool is useful in cross-border payments and can optimize access to financial services, but did not consider the launch necessary.
Back in 2020, Fed Chair Jerome Powell emphasized that it was more important for the US to come up with the right approach to the digital dollar than to become the first CBDC issuing nation.
We will remind you that in May 2024, the US House of Representatives prohibited the Federal Reserve from offering CBDC to individuals.
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