The US Treasury is betting that stablecoins backed by government securities can strengthen the global role of the dollar, with Treasury SecretaryScott Bessent defending new legislation on digital assets before Congress.
TreasurySecretaryScott Bessent has ignited global financial discussions by revealing persistent rumors that China is developing a digital asset not pegged to its national currency, the yuan.
TreasurySecretary Bessent has confirmed the department possesses no legal authority to execute a Bitcoin bailout ... Treasury Secretary Bessent’s ... Treasury Secretary say about a Bitcoin bailout?.
TreasurySecretaryScott Bessent declared the administration has no plans to introduce a central bank digital currency (CBDC) ... US Treasury Halts CBDC DevelopmentPlans ... Why is the US Treasury against developing a CBDC?.
Scott Bessent said Europe priortiesed its trade deal with India over Ukrainian people. He also said EU were unwilling to join us vis a vis tariffs ... .