U.S. Treasury Secretary Urges Passage of Digital Asset Market Clarity Act

U.S. Treasury Secretary Scott Bessent has highlighted the critical need for the Digital Asset Market Clarity Act to be passed, aiming to create definitive regulatory frameworks for Bitcoin and digital asset markets in the United States. According to NS3.AI, the proposed legislation is encountering resistance due to concerns over stablecoin yield restrictions and the roles of regulatory agencies. Despite these challenges, the bill has garnered substantial bipartisan support. Additionally, the U.S. government intends to maintain a Strategic Bitcoin Reserve with seized bitcoin to promote domestic cryptocurrency innovation.