Treasury Secretary Slams Federal Reserve’s CBDC Proposal

US Treasury Secretary Scott Bessent has strongly opposed the Federal Reserve’s Central Bank Digital Currency (CBDC) initiative, emphasizing his commitment to private digital asset development. He views the Fed’s proposal as a sign of weakness and advocates for continued focus on regulating private cryptocurrencies over launching CBDCs. Bessent’s stance aligns with President Trump’s executive order prohibiting federal CBDC efforts. This opposition highlights the potential financial implications of the debate, as his comments may influence future stablecoin legislation. ]