Bessent Says Treasury Is Pursuing Strategic Bitcoin Reserve, Sees CLARITY Act Passing This Summer

Treasury Secretary Scott Bessent said the US is pursuing a strategic Bitcoin reserve and expressed hope that the CLARITY Act will pass this summer. The comments are drawing attention to the direction of US digital-asset policy.

The Block reported on June 3 that Bessent told a Senate Finance Committee hearing the digital-asset industry needs a clear regulatory framework.

He said the administration is working to strengthen crypto custody rules and make the US a global center for innovation. Bessent also said he hopes the CLARITY Act will clear Congress this summer.

He added that the Treasury Department is also moving ahead with a strategic Bitcoin reserve plan.

The CLARITY Act would shift oversight of digital assets from the Securities and Exchange Commission to the Commodity Futures Trading Commission, while clarifying the regulatory framework for decentralized finance, or DeFi, and stablecoins.

Debate over the bill has continued in Washington. The crypto industry backs the measure, but some Democratic lawmakers and banks have raised concerns that its consumer-protection and anti-money-laundering safeguards are inadequate.

In the market, Bessent's comments on a strategic Bitcoin reserve could bolster expectations for Bitcoin's integration into mainstream finance and stronger demand at the national level.