U.S. Treasury Secretary Presses Senate to Pass Crypto Market Structure Legislation
Bitcoin Magazine
Treasury Secretary Scott Bessent urged the Senate to pass comprehensive cryptocurrency legislation to maintain U.S. financial leadership and protect the dollar's global standing.Summary
U.S. Treasury Secretary Scott Bessent testified before a Senate subcommittee, advocating for the urgent passage of cryptocurrency market structure legislation. Bessent argued that establishing a clear regulatory framework is vital for national security and economic growth, as it would bolster the dollar's role as a global reserve currency and bring digital asset activities under domestic regulatory oversight. He emphasized that the U.S. must lead in financial innovation, noting that current regulatory uncertainty has caused crypto development to shift to jurisdictions with clearer rules, such as Singapore and Abu Dhabi.
(Source：Bitcoin Magazine)