Treasury Backing: Bessent Supports Crypto Bills as Partisanship Deepens

U.S. Treasury Secretary Scott Bessent lent his support to two key crypto bills currently under debate in Congress, signaling the Biden administration’s alignment with Republican-led efforts to position the U.S. as a global leader in digital assets. In his remarks before the House Financial Services Committee on May 7th, Bessent emphasized the need for sound regulation to solidify U.S. dominance within the crypto sector.