Bessent Urges Congress to Pass Crypto Clarity Act This Summer

Speaking on Wednesday, Treasury Secretary Scott Bessent urged lawmakers to pass the Crypto Clarity Act this summer, citing the need for a federal framework to bring digital asset activity under clearer U.S. rules. During a Senate Finance Committee hearing on the 2027 budget, Bessent emphasized the bill's importance for resolving regulatory disputes and establishing market structure standards for exchanges, custodians, and token issuers. "It's very necessary to bring U.S. best practices onshore and make the U.S. the innovation capital of the world," Bessent said.

Bessent also confirmed Treasury is advancing a strategic bitcoin reserve funded primarily through government-held bitcoin from criminal and civil forfeitures. The administration is pursuing both legislative and executive pathways: the Clarity Act in Congress and the bitcoin reserve through existing government assets, signaling a coordinated two-track digital asset agenda.