U.S. Treasury Secretary Scott Bessent spoke about Cryptocurrency: "Regarding Cryptocurrency, the U.S...."

U.S. Treasury Secretary Scott Bessent stated that the U.S. should be the global leader in the digital asset space.

Speaking at the Financial Services Committee of the House of Representatives, Bessent addressed Congress members who are seeking regulations for cryptocurrencies: "The United States must be the number one location for digital assets."

Bessent, who was asked by committee members "Why the U.S. should lead in this area," said, "We believe that for the U.S. to spread the best market practices to the world, Congress and the Senate need to create a good market structure."

Bessent, who was appointed by President Donald Trump to the Treasury Department and confirmed by the Senate in January, had previously drawn attention with her positive approach to digital assets, arguing that the crypto economy is "here to stay." Bessent is also a member of the "Presidential Working Group on Digital Asset Markets," established by Trump’s presidential memorandum dated January 23.

Although tariffs were mostly discussed in the session, another topic the committee focused on was a comprehensive cryptocurrency regulation bill. On Monday, House Republicans shared a draft bill with the public that redefines the jurisdictions of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The draft also includes new disclosure obligations.

However, some Democrats expressed their concerns about Trump's relationship with crypto after he launched his own memecoin shortly before the inauguration ceremony in 2025. The venture called World Liberty Financial, linked to Trump, recently introduced its own stablecoin as well. On Tuesday, some Democratic lawmakers left the planned crypto session to hold their own roundtable meetings, publicly voicing their worries about Trump's influence in this area. Nevertheless, some figures, like Democratic Representative Angie Craig, preferred to stay in the session and stated that "both sides need to work together."