India, May 29 -- US Treasury Secretary Scott Bessent has confirmed that the department has begun preparatory work on a proposed USD 250 currency note that could feature President Donald Trump, pending approval from the US Congress.

Bessent stated that while the final decision rests with lawmakers, the Treasury Department has already developed a preliminary design in anticipation of stalled legislation that seeks to authorize the new denomination.

According to the proposal introduced in Congress, the bill would instruct the Bureau of Engraving and Printing to create a commemorative USD 250 note as part of celebrations marking the 250th anniversary of US independence. The legislation would also allow exceptions to existing rules that proh...