Treasury Secretary Scott Bessent recently pressed lawmakers for action on stalled crypto and bitcoin legislation, saying the United States must ensure clear rules on market structure before the end of the spring legislative window.
In an interview with Sunday Morning Futures on Fox News, Bessent said the Digital Asset Market Clarity Act – commonly referred to as the Clarity Act – is essential to the future viability of the bitcoin and digital asset markets in the United States.
Bessent told host Maria Bartiromo that the recent volatility and developments in crypto markets really show the need for legal certainty.
“What we’ve seen in the crypto market over the last few months means more than ever that the United States needs market structure, we need clarity, and we need to get this through this spring,” he said.
Bessent acknowledged resistance from some quarters, but said he remained optimistic that Congress would be able to bring the bill back for a markup session.
The Treasury chief described the current impasse as being driven by “recalcitrant players” within the industry who would rather see the bill fail than compromise on controversial elements.
He said many traditional financial firms and a wide range of crypto and bitcoin companies aligned on the need for legislation, but a vocal minority on both sides of the debate was holding back progress.
At the heart of the dispute are the Clarity Act’s provisions regarding stable returns and the role of regulatory agencies. Opponents, including top exchange executives, have argued that the proposed restrictions on rewards for stablecoin holdings could harm 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 divert deposits away from the traditional banking system, undermining funding for lending activities.
Bessent said the debate over bank margins and crypto incentives is inevitable, but it is better to resolve these issues through legislation rather than leaving markets in legal limbo.
“For crypto to remain a viable digital asset and move forward, we must implement this Clarity Act,” he said, pointing to bipartisan support in Congress as a path to success.
The Treasury’s position also reflects the executive branch’s broader desire to position the United States as a global leader in crypto regulation.
Bessent said a clear market structure regime could attract innovation and capital locally, strengthening the domestic financial ecosystem even as digital assets expand internationally.
Lawmakers involved in the negotiations signaled that further closed-door negotiations were planned as both chambers sought to iron out their differences before key legislative deadlines.
Bessent: the United States will stop selling its bitcoin
Earlier this year, Bessent said the US government’s position was to stop selling seized BTC and add it to the strategic Bitcoin reserve. Speaking at the World Economic Forum in Davos, he framed the move as part of a broader initiative to bring digital asset innovation back to the United States.
The comments come amid questions about bitcoin seizures linked to cases involving the developers of Tornado Cash and Samourai Wallet. While declining to discuss active litigation, Bessent emphasized that the seized BTC will be retained by the federal government once legal damages are resolved.
Any sale of bitcoin would be in violation of Executive Order 14233, which requires confiscated bitcoin to be retained in the U.S. Strategic Bitcoin Reserve rather than liquidated.
