US Treasury Secretary Scott Bessent has stepped up his speech to sectors of the Bitcoin (BTC) and crypto industry that oppose the establishment of a legal framework for digital assets.
In an interview with Fox News, the official described those blocking the progress of the Clarity Act as “rebellious actors.” Further warning against lack of clear market structure endangering the country’s competitiveness.
Bessent emphasized that there is a small group of companies. They prefer to operate in a legal vacuum rather than comply with proposed regulations. By Donald Trump’s administration.
These comments appear to be referring to people such as Brian Armstrong, CEO of Coinbase, the largest cryptocurrency exchange in the United States. He expressed his rejection of the current provisions of the Clarity Act. and withdrew support for the regulatory project.
In the face of this resistance, Mr. Bessent has been outspoken in other scenarios, including his recent appearance before the Senate Banking Committee on February 5th. At the time, he suggested that there are other jurisdictions available to market participants who do not wish to submit to U.S. government oversight, with particular reference to El Salvador.
“There is bipartisan support.”
The Transparency Act, which seeks to structure the market for digital currencies and stablecoins, is at a critical point in the legislative history of the U.S. Congress. Bessent urged lawmakers to move this forward in the short term.
“I think what we’ve been seeing in the digital asset market in recent months means more than ever that the United States needs market structure. We need clarity. And we need to move this forward this spring,” the Secretary said.
Despite perceived delays in the Senate; The Treasurer was optimistic Regarding the future of regulations. He asserts that there is a consensus in the current political arena.
“I’m optimistic. There’s bipartisan support here,” he said. and he suggested the need for clear rules Transcending traditional partisan divides In Washington.
The future of Bitcoin and financial stability
The Trump administration’s approach will be to securely integrate Bitcoin into the financial system, rather than restricting the technological innovation that supports it. “For digital assets to survive and move forward, approval of this Transparency Act is necessary,” the official explained.
The goal is to find a balance that ensures the stability of the U.S. financial system in the face of the transition of traditional bank deposits to digital asset platforms.
Mr. Bessent said that both traditional banks and various companies in this field They are united in seeking this legal security.
The outlook for the signing of this law is positive. CriptoNoticias reported that key industry players, including Crypto Council Executive Director Patrick Witt, estimate that President Trump could sign the Clarity Act on April 3.
Experts, such as former Congressman Patrick McHenry, believe this date is “realistic” and see in this process a critical opportunity for technology development to return to U.S. territory. We will position this country as a powerhouse of financial innovation.
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