Scott Bessent has been appointed as the acting chair of the Consumer Financial Protection Bureau (CFPB) while continuing as U.S. Treasury Secretary. His role aims to drive economic growth and minimize costs for Americans, following President Trump’s broader agenda.

Under Bessent’s leadership, the CFPB is expected to navigate the evolving regulatory landscape surrounding cryptocurrency. He has a history of favorable opinions on crypto and has publicly opposed the introduction of a U.S. Central Bank Digital Currency.

Bessent’s new position will also involve participation in a President’s Working Group dedicated to Digital Asset Markets, indicating a strengthened governmental focus on establishing guidelines for cryptocurrency and related financial products.