Bessent urges Congress to pass crypto rules bill this spring

U.S. Treasury Secretary Scott Bessent said Congress should pass legislation creating federal rules for digital assets and send it to Donald Trump to sign into law this spring.

Bessent said the proposed crypto legislation, known as the Clarity Act, would provide stability and confidence to financial markets amid recent volatility in the cryptocurrency sector, News.Az reports, citing Reuters.

He added that while some cryptocurrency firms have tried to block the bill, a bipartisan group of lawmakers is currently pushing for its approval. However, Bessent warned that this coalition could weaken if Democrats gain control of the House of Representatives in November.

The push for regulation comes as policymakers seek clearer oversight of digital assets while balancing innovation and financial stability.

News.Az 

By Aysel Mammadzada