Scott Bessent
U.S. Treasury Secretary Scott Bessent has called on Congress to pass the Clarity Act this spring to provide regulatory clarity for digital assets amid market volatility. Speaking in interviews, he highlighted the bill's potential to stabilize markets and noted ongoing negotiations between crypto firms and banks. The legislation faces deadlock over issues like stablecoin rules, with a March 1 deadline for agreement.
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Treasury Secretary Scott Bessent pressed the cryptocurrency sector to support pending digital asset market structure legislation during Senate testimony. He criticized a faction within the industry for opposing regulation, amid ongoing disputes with banks over stablecoin yields. The comments aim to resolve a deadlock that has stalled the bill's progress.