U.S. Treasury Secretary Scott Bessent told a Senate hearing that the Treasury is advancing a strategic Bitcoin reserve at a steady pace and urged lawmakers to pass the Clarity Act this summer, aiming to bring best practices home and solidify America's role as an innovation hub.
During a Senate Finance Committee hearing, U.S. Treasury Secretary Scott Bessent detailed progress on the creation of a strategic Bitcoin reserve. He said the Treasury is advancing at a steady pace, noting that while the endeavor is complex, the department is committed to applying best practices at every stage to ensure the reserve's long-term viability. Bessent emphasized that the process is 'moving forward, ensuring best practices in a complex process so that it can last into the future.'
Bessent also urged lawmakers to back the Clarity Act, a digital asset regulation bill, and expressed hope for its passage this summer. He said the act would bring U.S. best practices into the domestic framework, making the country the world's innovation capital and providing clear rules for the crypto industry.
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