The US Senate has brought positive news for Bitcoin (BTC) and cryptocurrencies! Here are the details...

US President Donald Trump officially started his term last week and signed numerous executive orders. Trump, who also signed executive orders regarding cryptocurrencies, is also awaiting confirmation of appointments made by the US Senate for critical positions.

The US Senate confirmed Scott Bessent as Treasury Secretary!

At this point, the first news came. The US Senate has confirmed billionaire hedge fund manager Scott Bessent, whom Donald Trump nominated for the US Treasury Department.

The Senate approved Scott Bessent with 29 votes in favor and 68 against on January 27, with 16 Democrats supporting Bessent's candidacy.

Billionaire hedge fund manager Scott Bessent will replace current Treasury Secretary and former Fed Chairman Janet Yellen and will have a say in fiscal policy, financial regulation, international sanctions and foreign investments as the US Treasury Secretary.

Scott Bessent said he will follow crypto-friendly policies, end CBDC discussions, and FinCEN audits.

Bessent, who is pro-crypto, will also assist in the development of the cryptocurrency regulation framework and evaluate the creation of a "strategic national digital asset inventory" as part of the presidential working group established last week.

While the approval of Bessent by the Senate is welcomed by the crypto community, Ripple CEO Brad Garlinghouse congratulated Bessent on his X account and said the following:

"Congratulations to newly confirmed Treasury Secretary Scott Bessent! He will be a great leader for Americans.

I am confident that we will implement sensible economic policies by working together with the Administration and Congress to foster technology and crypto innovation in the United States.