US Treasury Secretary Wants New Crypto Rules Passed Soon

The U.S. Treasury Secretary, Scott Bessent, is asking Congress to pass a new law called the Digital Asset Market Clarity Act. He believes clear rules are needed for digital money like Bitcoin. This could help the U.S. stay competitive and attract more investment.
By Newsroom | Finance, United States |

A Call for Certainty in a Volatile Market

The U.S. Treasury Secretary, Scott Bessent, has publicly urged Congress to pass the Digital Asset Market Clarity Act, commonly known as the Clarity Act, before the end of the spring legislative session. Bessent’s repeated calls, amplified by statements from organizations like Coinbase, underscore a perceived urgency to establish clear regulatory frameworks for the cryptocurrency and bitcoin markets. This push comes as global markets experience significant fluctuations, highlighting what proponents argue is a growing need for legal certainty to foster innovation and attract capital to the United States.

Background and Timeline

The push for the Clarity Act has been ongoing, with Secretary Bessent intensifying his appeals in recent weeks.

  • Early February 2026: Scott Bessent publicly calls for the passage of the Clarity Act, framing it as essential for the future of digital asset markets in the U.S.

  • February 8, 2026: Coinbase issues a statement supporting Bessent's call for regulatory clarity.

  • Mid-February 2026: Bessent reiterates his stance in an interview on Fox News' Sunday Morning Futures, emphasizing the need for market structure rules before the spring legislative window closes. He also touches on the U.S. government's policy shift to retain, rather than sell, seized Bitcoin.

  • Senate Banking Committee Hearing: Bessent testifies, expressing frustration with some industry participants who resist stronger regulation, labeling them as "nihilists." Senator Mark Warner expresses similar concerns during the hearing, indicating an expectation for further meetings on the bill.

Key Evidence and Statements

Key statements and observations provide insight into the Treasury's position and the broader market context:

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Bessent says Congress should pass crypto regulation bill this spring - 1

"The U.S. Treasury Secretary stated on Fox News that Congress must act on the Digital Asset Market Clarity Act before the end of spring." - The Currency analytics

"Bessent told host Maria Bartiromo that the recent volatility and developments in crypto markets really show the need for legal certainty." - Bitcoin Magazine

"Bessent acknowledged resistance from some quarters but said he remains optimistic that Congress can bring the bill back for a markup session." - Bitcoin Magazine

"U.S. Treasury's Bessent calls out crypto 'nihilists' resisting market structure bill… Bessent testified in the Senate Banking Committee that some in the industry seem to want no regulation at all." - CoinDesk

Arguments for the Clarity Act

Proponents, including Secretary Bessent, articulate several benefits derived from the passage of the Clarity Act:

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  • Attracting Innovation and Capital: A clear regulatory environment is expected to encourage both domestic and international investment in the digital asset space, strengthening the U.S. financial ecosystem.

  • Legal Certainty: The bill aims to provide much-needed clarity on the rules governing digital assets, thereby reducing uncertainty for market participants and fostering stability.

  • Global Competitiveness: With other nations, such as China and Russia, reportedly increasing their Bitcoin holdings, establishing a robust domestic framework is seen as crucial for the U.S. to remain competitive in the global digital asset landscape.

  • Government Stance on Seized Bitcoin: Bessent has indicated a shift in government policy, suggesting an intention to add seized Bitcoin to a "Strategic Bitcoin Reserve" rather than selling it, a policy potentially bolstered by clearer regulatory guidelines.

Skepticism and Resistance

Despite the Treasury's advocacy, the push for the Clarity Act faces notable skepticism and opposition:

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  • Doubt Over Regulatory Intentions: Concerns exist among some observers that new regulations might not genuinely benefit the crypto community but could instead serve to increase the influence of traditional banks.

  • Industry Resistance: Bessent has publicly criticized certain "crypto insiders" and "nihilists" within the industry who, in his view, are hindering legislative progress by resisting comprehensive regulation. These individuals, he suggests, may prefer a less regulated environment.

  • Credibility of Bessent's Message: Some individuals find Bessent's arguments unconvincing, raising questions about the underlying logic or motivations behind the push for regulation.

Expert Perspectives

Analysis from industry observers and publications highlights the multifaceted nature of this legislative push:

  • Coinbase's Support: The endorsement from a major cryptocurrency exchange like Coinbase suggests that significant market players see potential benefits in the proposed legislation, possibly outweighing concerns about increased regulation.

  • International Dynamics: The observation that countries like China and Russia are increasing their Bitcoin holdings adds a geopolitical dimension to the debate. The U.S. push for regulation could be seen as an effort to regain or maintain a strategic advantage in this evolving global market.

  • "Nihilist" Label: Bessent's strong language towards opponents indicates a perceived impasse. His suggestion that those resisting regulation "move to El Salvador" reflects a firm stance against what he views as obstructionism.

Findings and Implications

The U.S. Treasury's persistent advocacy for the Digital Asset Market Clarity Act signals a clear intent to implement structured regulation within the digital asset sector. Secretary Bessent's emphasis on the spring legislative deadline, coupled with appeals for bipartisan support, suggests a strategic effort to finalize the bill.

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  • The core issue revolves around establishing a defined regulatory structure for digital assets, balancing innovation with oversight.

  • The differing viewpoints — one emphasizing economic opportunity and stability, the other voicing concerns about corporate influence and genuine protection — represent a critical juncture in U.S. digital asset policy.

  • The outcome of this legislative push will likely have a significant impact on the future trajectory of the cryptocurrency market within the United States and its standing in the international financial landscape.

Sources

Frequently Asked Questions

Q: What is the Digital Asset Market Clarity Act?
It is a proposed law in the U.S. to create clear rules for digital money and markets.
Q: Why does the Treasury Secretary want it passed?
He believes clear rules will help the U.S. attract investment and innovation in digital assets.
Q: Is everyone happy about this law?
No, some people in the crypto industry do not want these new rules and think they might help big banks more.
Q: What did the Secretary say about people who don't want the rules?
He called them 'nihilists' and said they might want to move to countries with no rules.
Q: What is the U.S. government planning to do with seized Bitcoin?
The Secretary suggested keeping seized Bitcoin in a special reserve instead of selling it.