{"id":154379,"date":"2026-04-22T18:28:05","date_gmt":"2026-04-22T18:28:05","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=154379"},"modified":"2026-04-22T18:28:05","modified_gmt":"2026-04-22T18:28:05","slug":"u-s-treasury-secretary-presses-senate-to-pass-crypto-market-structure-legislation","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=154379","title":{"rendered":"U.S. Treasury Secretary Presses Senate to Pass Crypto Market Structure Legislation"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

U.S. Treasury Secretary Presses Senate to Pass Crypto Market Structure Legislation<\/a><\/p>\n

<\/div>\n

Treasury Secretary Scott Bessent<\/a> told a Senate panel Wednesday that passing comprehensive crypto legislation is essential to securing U.S. financial leadership and protecting the dollar\u2019s status as the world\u2019s reserve currency, using an appearance before the Senate Appropriations Subcommittee on Financial Services and General Government to amplify a push for legislation that has stalled<\/a> on Capitol Hill for months.<\/p>\n

Bessent testified at a hearing<\/a> reviewing President Donald Trump\u2019s Fiscal Year 2027 budget request for the Department of the Treasury. During the session, a senator on the Agriculture Committee raised Bessent\u2019s recent Wall Street Journal op-ed on crypto policy, noting support for the market structure bill that cleared the Agriculture panel in January.<\/p>\n

\u201cWhen the United States leads in best practices, safety and soundness in the financial world \u2014 whether it\u2019s our banking system, our securities, or now digital assets \u2014 it\u2019s important for the U.S. to lead,\u201d Bessent said.\u00a0<\/p>\n

He framed U.S. leadership<\/a> in 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.<\/p>\n

\n

JUST IN: Treasury Secretary Scott Bessent tells the Senate we need to pass Bitcoin & crypto market structure legislation.<\/p>\n

“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<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) April 22, 2026<\/a>\n<\/p><\/div>\n

Bessent also characterized digital assets as a critical payments technology, calling blockchain a \u201cpayment rail\u201d where American dominance is achievable and necessary. \u201cWe are the technological leader in the world. We should be the payments leader in the world,\u201d he said during the hearing.<\/p>\n

Where current crypto legislation stands<\/h2>\n

The road to a comprehensive crypto market structure law remains fractured. The Digital Asset Market Clarity Act \u2014 commonly known as the CLARITY Act \u2014 passed the House in July 2025 by a 294-134 vote and was referred to the Senate Banking Committee that September.\u00a0<\/p>\n

Meanwhile, the Senate Agriculture Committee advanced its own version, the Digital Commodity Intermediaries Act, in a party-line vote<\/a> of 12-11 in January 2026. That bill would expand the Commodity Futures Trading Commission\u2019s authority to regulate digital commodity spot markets.<\/p>\n

The two chambers\u2019 versions must ultimately be reconciled before a final bill can reach the president\u2019s desk. The Senate Banking Committee has not yet scheduled its markup, having delayed action while focused on housing legislation. The senator in the hearing acknowledged ongoing work to ensure the CFTC is fully constituted and adequately resourced before a final deal is reached.<\/p>\n

In his April 8 Wall Street Journal opinion piece<\/a> \u2014 referenced in the hearing exchange \u2014 Bessent warned that regulatory uncertainty has pushed crypto development to jurisdictions with clear rules, citing Abu Dhabi and Singapore as examples. \u201cA growing share of crypto development has relocated to places with clear rules,\u201d Bessent wrote, adding that \u201cthe benefits of domiciling in the U.S. rarely outweighed the risks\u201d.<\/p>\n

Wednesday\u2019s testimony reflects a broader strategy by the Trump administration to build on momentum from the GENIUS Act, the stablecoin regulation law<\/a> signed into law in July 2025.\u00a0<\/p>\n

Bipartisan support remains a central challenge. The Senate Agriculture Committee\u2019s January vote advanced along party lines<\/a> after months of negotiations between Chair John Boozman (R-Ark.) and ranking Democrat Cory Booker (D-N.J.) failed to produce a deal.<\/p>\n

\u00a0Bessent, in the hearing, said he believed outstanding issues \u2014 including CFTC staffing and resources \u2014 could be resolved to produce bipartisan agreement, calling that outcome \u201cvery, very important.\u201d<\/p>\n

This post U.S. Treasury Secretary Presses Senate to Pass Crypto Market Structure Legislation<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Micah Zimmerman<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine U.S. Treasury Secretary Presses Senate to Pass Crypto Market Structure Legislation Treasury Secretary Scott Bessent told a Senate panel Wednesday that passing comprehensive crypto legislation is essential to securing U.S. financial leadership and protecting the dollar\u2019s status as the world\u2019s reserve currency, using an appearance before the Senate Appropriations Subcommittee on Financial Services […]<\/p>\n","protected":false},"author":0,"featured_media":154380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-154379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/154379"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=154379"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/154379\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/154380"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=154379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=154379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=154379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}