Senate confirms pro-crypto Scott Bessent as US treasury secretary

The US Senate confirmed Scott Bessent for Treasury Secretary with a vote of 68-29, supported by 16 Democrats, indicating bipartisan support.

Bessent, a billionaire hedge fund manager, is a strong proponent of cryptocurrency and has criticized high government spending and the concept of a central bank digital currency.

As Treasury Secretary, Bessent will focus on aligning economic policies with Trump’s agenda, including major tax reductions and lifting oil production.