The US Senate validated, on January 27, the appointment of Scott Bessent, a healing fund manager and fervent defender of cryptocurrencies, at the strategic position of secretary to the Treasury. This choice, supported by Donald Trump, marks a potential turning point in the United States economic and crypto policy.
Scott Bessent takes over from Janet Yellen to the post of secretary to the US Treasury
On January 27, 2025, the American Senate confirmed Scott Bessent as secretary to the Treasury, succeeding Janet Yellen. This appointment reflects the Pro-Crypto strategy of the Trump administration.
Influential figures, such as Brad Garlinghouse, CEO of Ripple, praised this choice, affirming their confidence in besing to stimulate technological and crypto innovation in the United States.
In this position, Bessent will supervise the gigantic debt market of $ 28,000 billion and will play a central role in fiscal policy and financial regulations. His declarations during confirmation hearings confirmed his support for the development of cryptos, thus strengthening the expectations of a favorable regulatory framework.
This appointment is part of a broader dynamic. Indeed, the Trump administration recently strengthened its commitment to cryptos, in particular with a decree of January 23 which entrusts the Treasury a key role in a working group responsible for defining a national strategy in terms of crypto policy.
An assertive pro-Crypto vision
During his hearing before the Senate finance committee, Bessent clearly exposed his position on the crucial issues of the sector. The new secretary, aged 62, notably spoke out against the development of an American central bank (CBDC) digital currency, aligning his position with that of President Trump.
“” I do not see any reason for the United States to have a central banking currency“, He declared On January 16, adding that CBDCs were more suitable for countries lacking investment alternatives. This position reflects his liberal vision of the crypto market, which he considers “synonymous with freedom”.
In an interview with Fox Business in July, Bessent had already displayed his enthusiasm for Crypto adoption, stressing their adequacy with the values of the republican party and their sustainability in the modern economy.
In short, the new secretary of the Treasury thus joins a government working group dedicated to cryptocurrencies, alongside David Sacks, responsible for artificial intelligence and cryptos, and presidents of the SEC and the CFTC. This configuration suggests a significant evolution of crypto regulation in the United States, potentially more favorable to the innovation and development of the sector.
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