Crypto News: Bitcoin Surges as US Treasury, White House & Congress Weigh Regulation

U.S. Treasury Secretary Scott Bessent reiterated his call for Congress to pass the Clarity Act this spring, emphasizing the need for clear market structure rules for digital assets amid ongoing volatility in the cryptocurrency market. Bessent’s renewed push comes as the bill faces resistance from within the industry, according to a recent interview with Fox News’ Sunday Morning Futures.

The Treasury Secretary stated that recent market fluctuations underscore the urgency of establishing a regulatory framework. “What we’re seeing in the crypto market over the past few months means more than ever that the U.S. Needs market structure, we need clarity, and we need to get this across the line this spring,” Bessent said. He acknowledged that disagreements exist, characterizing the impasse as stemming from “recalcitrant actors” who prioritize blocking the bill over finding common ground.

The Clarity Act is considered essential for the future viability of bitcoin and digital asset markets in the U.S., Bessent argued. His comments follow a period of decline for bitcoin, which recently traded at approximately $67,800, a roughly 19% decrease over the past two weeks.

The push for the Clarity Act follows the passage of the GENIUS Act in July 2025, which aimed to provide regulatory clarity for stablecoins, making it easier for banks to issue them. President Donald Trump signed the GENIUS Act into law, touting his administration’s efforts to position the U.S. As a “crypto capital of the world.” Trump, who once expressed skepticism towards cryptocurrency, has since embraced the industry, even launching his own meme coin.

While the GENIUS Act addressed stablecoins, the Clarity Act seeks to establish broader market structure rules for the entire digital asset ecosystem. Bessent indicated that a broad coalition of traditional financial firms and crypto companies support the legislation, but a vocal minority continues to impede progress. The core of the dispute centers on provisions related to stablecoin yields and the roles of various regulatory agencies.

Bessent’s latest appeal to lawmakers mirrors previous statements, including an earlier urging in February, as reported by Seeking Alpha. The Treasury Secretary has consistently emphasized the importance of securing clear rules before the conclude of the spring legislative window.