For four years, we have listened to Treasury Secretary Yellen’s poor views on cryptocurrencies. Moreover, her rhetoric has not been beneficial in preventing massive fiascos like FTX. In fact, before the collapse of FTX, Democrats were showcasing Sam Bankman-Fried as “America’s golden child” in Congress. Now, circumstances have changed considerably.
U.S. Treasury Secretary and Cryptocurrency
Billionaire hedge fund investor Scott Bessent, long rumored to be a candidate for the Treasury Secretary position, has just been announced by Bloomberg. The latest report suggests that Trump is considering Scott for the Treasury Secretary role. Given his long-standing mention as a candidate, this official announcement is not surprising.
How does the new Treasury Secretary view cryptocurrencies, given Janet Yellen’s departure? Throughout the Trump campaign, he indicated a positive stance on cryptocurrencies and promised to eliminate regulatory nightmares. The individual he is considering for the Treasury aligns with this pledge. Previously, Scott expressed the following about cryptocurrencies:
“I am excited about the President embracing
