off-the-wire

Bessent says Congress should pass crypto regulation bill this spring

Kitco Media
By Reuters
Published:
Updated:
Reuters
Bessent says Congress should pass crypto regulation bill this spring teaser image

WASHINGTON, Feb 13 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Friday that it was important for Congress to pass a bill to create federal rules for digital assets and get it onto President Donald Trump's desk to sign into law this spring.

Bessent, asked on CNBC about the crypto bill's status amid a recent sell-off in the sector, said the bill, known as the Clarity Act, would give "great comfort to the market" at a time of great volatility.

He added that cryptocurrency firms have tried to block the legislation, but that there is a bipartisan group of lawmakers who want to get it passed. This coalition may collapse if Democrats take control of the House of Representatives in November, Bessent said.

Reporting by David Lawder; editing by Philippa Fletcher

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