Treasury Secretary Scott Bessent has urged lawmakers to advance stalled crypto and bitcoin legislation, emphasizing the need for clear market structure rules in the United States before the end of the spring legislative session.

In an interview with Fox News, Bessent highlighted the importance of the Digital Asset Market Clarity Act, also known as the Clarity Act, calling it essential for the future viability of bitcoin and other digital asset markets in the U.S.

He noted that recent volatility in crypto markets underscores the urgent need for legal certainty.

Bessent expressed optimism that Congress could bring the Clarity Act back for a markup session, despite resistance from some industry actors.

He attributed the legislative impasse to what he described as “recalcitrant actors” who prefer to see the bill fail rather than compromise.

While many traditional financial firms and a broad range of crypto and bitcoin companies support the legislation, a vocal minority on both sides of the debate has reportedly obstructed progress.

A key point of contention centers on stablecoin yields and regulatory oversight.

Opponents, including executives from major crypto exchanges, argue that limits on rewards for stablecoin holdings could reduce the competitiveness of U.S. exchanges and stifle innovation.

Conversely, banks and credit unions have raised concerns that high stablecoin yields might divert deposits from the traditional banking system, potentially impacting lending activities.

Bessent acknowledged that debates over bank margins and crypto incentives are inevitable, but stressed that legislation is preferable to leaving markets unregulated.

He noted that bipartisan support in Congress could help secure passage of the Clarity Act and ensure crypto remains a viable digital asset.

The Treasury’s position aligns with a broader executive branch initiative to establish the U.S. as a global leader in crypto regulation.

Bessent believes a clear market structure could attract innovation and capital onshore, strengthening the domestic financial ecosystem even as digital assets grow internationally.

Lawmakers have indicated that closed-door negotiations are ongoing to reconcile differences before critical legislative deadlines.

Additionally, Bessent previously announced that the U.S. government intends to cease selling seized bitcoin (BTC), instead incorporating it into a Strategic Bitcoin Reserve.

Speaking at the World Economic Forum in Davos, he framed this decision as part of a broader effort to repatriate digital-asset innovation to the U.S.

These comments came amid questions regarding bitcoin seizures linked to Tornado Cash and Samourai Wallet cases.

While declining to comment on active litigation, Bessent affirmed that any seized BTC would remain under federal control once legal matters are resolved.

Selling bitcoin, he clarified, would contradict Executive Order 14233, which mandates that forfeited bitcoin be retained in the U.S. Strategic Bitcoin Reserve rather than liquidated.