Treasury Chief Says "Crypto is Freedom" And Wall Street Looks To Be Listening
February 3, 2025 at 2:09 PMby The Block Whisperer
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The U.S. is embracing crypto, rejecting CBDCs, and pushing stablecoins. Treasury Secretary Bessent leads new policies, fueling Bitcoin’s rise and Wall Street's growing interest.
The world’s largest economy is taking decisive steps to fulfill Trump’s promise of making itself into the crypto capital.
U.S. Treasury Secretary Scott Bessent just went full crypto-pilled on FOX Business, calling digital assets "synonymous with freedom.”
That’s big talk from a nation that’s so far treated crypto like an infectious disease.
Could Uncle Sam finally be coming around to the inevitable?
When the Treasury Secretary starts sounding like a 2013 Bitcoiner, you know something's changed on a fundamental level.
And Bessent isn't just talking the talk, but walking the walk, actively fighting against CBDCs and ensuring that crypto remains in the hands of the people.
His take is that if your country already has solid investment options, you don't need a digital dollar.
Since stablecoins now process more volume than VISA and Mastercard, it’s not like non-CBDC digital dollars will soon go away.
Thanks to Trump's January executive order, Bessent's got the keys to the crypto kingdom.
He's co-leading a working group aiming to create new crypto rules by mid-2025.
Oh, and they're focusing on stablecoins and potentially creating a national digital asset reserve.
So yeah – stablecoins are here to stay, but CBDCs not so much.
We love to see it.
Bitcoin's been on an absolute tear since Bessent took office, pumping 66% in six months.
Sure, the price is back below $100,000 again, but when you consider Wall Street’s time frames, that’s still an insane return in a short amount of time.
And speaking of suits, they’re getting in on the action – Morgan Stanley and Bank of America are ready to ape in, now that the regulatory FUD is clearing.
With talk like that, Bitcoin is cheap, below $100,000.
Ripple's CEO Brad Garlinghouse calls Bessent's moves "common-sense policies."
Meanwhile, Senator Cynthia Lummis wants to create a Strategic Bitcoin Reserve.
All good things to hear from industry leaders and Washington big wigs.
Of course, it's not all moon and lambos.
Bessent's juggling Trump's tax cuts with some spicy tariffs (2.5-20% on imports).
And China's still trying to make their digital yuan happen (good luck with that).
By 2026, we might be looking at $300 billion in daily stablecoin settlements.
Tokenized securities could easily clip $50 billion with Wall Street’s involvement.
But remember, we've still got the SEC and CFTC playing regulatory hot potato.
It’ll land in one of those agency’s laps eventually.
Whether this is the hopium we've been waiting for or just another chapter in crypto's wild story, the U.S. government looks like its finally ready to embrace crypto.
And this time, they’re going all in.
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