Treasury Secretary Bessent Urges Passage of Crypto Bill
Treasury Secretary Scott Bessent urged Congress to pass the Clarity Act for digital assets. He stated that clear rules will keep crypto investment in the U.S.
In a recent push for legislative action, United States Treasury Secretary Scott Bessent has called on Congress to pass a federal bill to create rules for digital assets. Writing in an op-ed for the Wall Street Journal, Bessent emphasized the necessity of the Clarity Act to ensure that cryptocurrency development and investment remain anchored within the country. Bessent noted that the current lack of a clear regulatory structure has led to predictable consequences, with a growing share of the industry relocating to jurisdictions with established rules. He specifically highlighted hubs such as Abu Dhabi and Singapore as locations where firms benefit from knowing exactly how to register and operate.
The benefits of domiciling in the U.S. rarely outweighed the risks.
