Bessent Testifies Before House Committee on International Financial System

US Treasury Secretary Scott Bessent appeared before the House Financial Services Committee on Thursday to testify on the international financial system and the role of the dollar. The Treasury Department stated that Bessent discussed ways to strengthen US leadership in the global financial system during the hearing, which was designated as an annual testimony on the international financial system by the committee.

CryptoBriefing reported that the testimony highlighted the strategic advantage of the dollar alongside vulnerabilities in cybersecurity and digital asset regulation within the international financial system. The Treasury Department released Bessent's prepared remarks, which covered topics such as G20 finance ministers' meetings, reform of international financial institutions, and regulatory modernization, but did not include any references to cybersecurity or digital assets.