Treasury Secretary Scott Bessent recently pressed lawmakers to act on stalled crypto and bitcoin legislation, saying the United States must secure clear market structure rules before the end of the spring legislative window.
In an interview from Fox News’ Sunday Morning Futures, Bessent said that the Digital Asset Market Clarity Act — commonly referred to as the Clarity Act — is essential to the future viability of bitcoin and digital asset markets in the U.S.
Bessent told host Maria Bartiromo that the recent volatility and developments in crypto markets really show the need for legal certainty.
“What we’re seeing in the crypto market over the past few months means more than ever that the U.S. needs market structure, we need clarity, and we need to get this across the line this spring,” he said.
Bessent acknowledged resistance from some quarters but said he remains optimistic that Congress can bring the bill back for a markup session.
The Treasury chief described the current impasse as driven by “recalcitrant actors” within the industry who would prefer to see the bill fail rather than compromise on contentious elements.
He said that many traditional financial firms and a broad swath of crypto and bitcoin companies have aligned behind the need for legislation but that a vocal minority on both sides of the debate are holding up progress.
Central to the dispute are provisions in the Clarity Act concerning stablecoin yields and the role of regulatory agencies. Opponents, including major exchange executives, have argued that proposed restrictions on rewards for stablecoin holdings could undermine the competitiveness of U.S. exchanges and limit innovation. Banks and credit unions, in turn, have raised concerns that high yields on stablecoin accounts could pull deposits away from the traditional banking system, undermining funding for lending activities.
Bessent said debate over bank margins and crypto incentives is unavoidable but that resolving these issues through legislation is preferable to leaving markets in a legal vacuum.
“For crypto to remain a viable digital asset and move forward, we need to get this Clarity Act done,” he said, pointing to bipartisan support in Congress as a pathway to success.
The Treasury’s stance also reflects the broader executive branch push to position the U.S. as a global leader in crypto regulation.
Bessent said a clear market structure regime could attract innovation and capital onshore, strengthening the domestic financial ecosystem even as digital assets grow internationally.
Lawmakers involved in negotiations have signaled that further closed‑door talks are planned, with both chambers seeking to reconcile differences ahead of key legislative deadlines.
Bessent: U.S. will stop selling its bitcoin
Earlier this year, Bessent said the U.S. government’s stance is to stop selling seized BTC and instead add it to the Strategic Bitcoin Reserve. Speaking at the World Economic Forum in Davos, he framed the move as part of a broader push to bring digital-asset innovation back to the U.S.
The comments came amid questions over bitcoin seizures tied to cases involving Tornado Cash and Samourai Wallet developers. While declining to discuss active litigation, Bessent stressed that seized BTC will be retained by the federal government once legal damages are resolved.
Any selling of bitcoin would contradict Executive Order 14233, which requires forfeited bitcoin to be held in the U.S. Strategic Bitcoin Reserve rather than liquidated.
Source: https://bitcoinmagazine.com/news/passing-clarity-act-critical-for-bitcoin
