US Treasury Secretary Scott Bessent announced on 28/5 that a draft bill has been prepared for a new currency featuring President Donald Trump, to be submitted to Congress for approval. The Treasury also developed designs for the $250 denomination bill bearing Trump's likeness.

"Under current regulations, no living person may appear on currency, and bills must include the phrase 'In God We Trust'", Bessent explained. "Therefore, the bill is being submitted to the House of Representatives and Senate to amend this requirement, allowing President Trump, who is still living, to appear on the $250 bill."

US Treasury Secretary Scott Bessent holds a sample design of the $250 bill featuring President Donald Trump during a White House press conference on 28/5. Photo: AP

A spokesperson for the US Treasury had previously confirmed the agency's plan to issue a $250 bill to commemorate the 250th anniversary of the nation's independence. However, the spokesperson did not mention that the bill would feature Trump.

The "Donald J. Trump $250 Bill Act" was introduced to the US Congress in February last year. It was then referred to the House Financial Services Committee, where it has since stalled without further action.

Over time, Trump has also sought to have his name or image appear on various forms of currency. In March, the US Treasury announced that currency would bear Trump's signature.

In October last year, the US Treasury also announced it was exploring the issuance of a $1 coin featuring Trump, also in commemoration of the 250th US Independence Day on 4/7.

Ngoc Anh (According to AP, CBS, Washington Post)