With his confirmation of the American Senate behind him, Scott Besent is in his place to be the senior financial official of the administration of President Donald Trump, where he will be among those who meet the cryptography directives already established by the president last week.
Besent, a former manager of multimillionaire coverage funds, did not give much to the cryptographic sector to chew during his nomination hearing earlier this month, but is a well -known digital asset enthusiast. His boss, Trump, has already assigned a place to the team assigned to gather the Federal Government for a friendly supervision system.
The Senate voted 68-29 to approve Besent’s nomination on Monday night, and will officially join Trump’s cabinet when he sworn to permanently replace the predecessor Janet Yellen. In the center of the Trump agenda is the extension of the tax cuts, so the highest priority can push the cryptocurrencies on the list, although the president included it among his initial rescue of executive orders.
Senator Mike Crapo, a Idaho Republican who presides over the Senate Financial Committee, described Besent “one of the most acute minds in the global finance industry” before confirmation on Monday, saying “his background and training are made to measure for this role. “
Trump’s cryptographic order will cause Besent’s treasure to assume a role in a governmental work group, backed by “individual experience of leaders in digital assets and digital markets”, to obtain the strategy for the US cryptocurrency policy. His department is among those who owe a report to the White House in less than two months on how six months.
He will also be responsible for erasing the cryptographic work of his predecessor who had been led by former President Joe Biden.
The order also prohibits work in a digital currency of the Central Bank of the United States (CBDC), which had never progressed beyond the stage of tire kick in the United States, despite the adoption and enthusiastic tests by other others Jurisdictions, including China.
As a candidate, the former Key Square Group chief told the senators at his confirmation hearing that he saw no reason “to follow the idea of a domestic CBDC, which the cryptographic was further entaned that they have been nervous that the Government could pursue a digital dollar digital. But he was not questioned about cryptographic policies.
Even so, Besent is no stranger to digital assets. He had put hundreds of thousands of dollars of his personal wealth in a quoted fund (ETF) of Bitcoin (BTC), as pointed out in his long financial revelations. Those assets were settled when he received the Trump nomination.
In the Treasury, Besent is also in charge of his network of application of financial crimes that had pursue hinder tracking. The Treasury Financial Crimes arm had focused on digital assets as a popular transaction medium in human trafficking and child exploitation.
The Besent department also manages the financial sanctions of the United States, which have historically given the scope of the federal government to the activity abroad, such as when it was addressed in cash with sanctions that were recently annulled in a federal court.
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