Authored by Micah Zimmerman via BitcoinMagazine.com,
Treasury SecretaryScott Bessenttold a Senate panel Wednesday that passing comprehensive crypto legislation is essential to securing U.S. financial leadership and protecting the dollar’s status as the world’s reserve currency, using an appearance before the Senate Appropriations Subcommittee on Financial Services and General Government to amplify a push for legislationthat has stalledon Capitol Hill for months.
Bessent testified at ahearingreviewing President Donald Trump’s Fiscal Year 2027 budget request for the Department of the Treasury. During the session, a senator on the Agriculture Committee raised Bessent’s recent Wall Street Journal op-ed on crypto policy, noting support for the market structure bill that cleared the Agriculture panel in January.
“When the United States leads in best practices, safety and soundness in the financial world — whether it’s our banking system, our securities, or now digital assets — it’s important for the U.S. to lead,”Bessent said.
He framedU.S. leadershipin digital assets as both an economic and national security imperative, arguing it would reinforce the primacy of the dollar as the global reserve currency and bring cryptocurrency activity under domestic anti-money laundering and know-your-customer frameworks.
JUST IN: 🇺🇸 Treasury Secretary Scott Bessent tells the Senate we need to pass Bitcoin & crypto market structure legislation."The US has to lead here. We're the technological leader in the world, we should be the payments leader in the world."pic.twitter.com/1hlfrYeToY
Bessent also characterized digital assets as a critical payments technology, calling blockchain a “payment rail” where American dominance is achievable and necessary.
“We are the technological leader in the world. We should be the payments leader in the world,”he said during the hearing.
The road to a comprehensive crypto market structure law remains fractured.
The Digital Asset Market Clarity Act — commonly known as the CLARITY Act — passed the House in July 2025 by a 294-134 vote and was referred to the Senate Banking Committee that September.
Source: ZeroHedge News
