"Bessent argued Congress must advance the Digital Asset Market Clarity Act to preserve U.S. leadership in financial markets, highlighting regulatory fragmentation affecting blockchain innovation and exchanges."
"The global market capitalization of digital assets fluctuated between $2 trillion and $3 trillion, reflecting increasing institutional involvement and the need for clearer rules."
"Bessent reinforced his stance on social media, emphasizing the urgency around market scale and adoption trends, which are critical for shaping future U.S. crypto leadership."
U.S. Treasury Secretary Scott Bessent emphasizes the urgent need for the Digital Asset Market Clarity Act to ensure U.S. leadership in the financial sector. He highlights the fragmented regulatory landscape that hampers blockchain innovation and institutional adoption. The digital asset market has seen significant growth, with market capitalization fluctuating between $2 trillion and $3 trillion. Bessent points out the necessity of defining jurisdictional boundaries between the SEC and CFTC to provide clarity and stability for firms operating in this space.
Read at news.bitcoin.com
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