Scott Bessent, President-elect Donald Trump's nominee to be Treasury secretary, told a Senate finance committee nomination hearing that he saw "no reason" for the US to have a central bank digital currency (CBDC). "I see no reason for the US to issue a central bank digital currency, which in my view is for countries that have no other investment option," he said. Bessent, who was named a cryptocurrency expert by Trump in late November, has a positive attitude toward cryptocurrencies, telling Fox Business in an interview that he was "excited about the president's embrace of cryptocurrencies."