Bessent Says US Is Pursuing Strategic Bitcoin Reserve, Expects CLARITY Act This Summer
Summary
- Treasury Secretary Scott Bessent said the US Treasury Department is moving forward with plans for a strategic Bitcoin (BTC) reserve.
- Bessent said he hopes the CLARITY Act will pass this summer and stressed the need for a clear regulatory framework for the crypto industry.
- The market sees the US government's push for a strategic BTC reserve as a potential catalyst for Bitcoin's deeper integration into mainstream finance and broader national-level demand.
Forecast Trend Report by Period
Treasury Secretary Scott Bessent said the US is pursuing plans for a strategic Bitcoin reserve and expressed hope that the CLARITY Act will pass this summer, drawing fresh attention to the direction of US crypto policy.
The Block reported on June 3 that Bessent told a Senate Finance Committee hearing the crypto industry needs a clear regulatory framework.
He said the administration is working to strengthen crypto custody rules and position the US as a global innovation hub. He also said he hopes the CLARITY Act will pass this summer.
Bessent added that the Treasury Department is also advancing a strategic BTC reserve plan.
The CLARITY Act would shift crypto regulatory authority from the Securities and Exchange Commission toward the Commodity Futures Trading Commission, while clarifying rules for decentralized finance, or DeFi, and stablecoins.
The bill has stirred debate in Washington in recent weeks. The crypto industry backs the measure, while some Democratic lawmakers and banks have raised concerns that consumer protection and anti-money-laundering safeguards are insufficient.
In the market, Bessent's comments on a strategic BTC reserve could fuel expectations that Bitcoin will move further into the financial mainstream and that government-level demand could expand.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
