Treasury pushes Bitcoin reserve, expects CLARITY Act to pass this summer

Treasury Secretary Scott Bessent told Senate lawmakers the department is pushing to establish a strategic Bitcoin reserve and digital asset stockpile, more than a year after President Donald Trump called for one in a 2025 executive order. Speaking at a Senate Finance Committee hearing on the department's fiscal 2027 budget, he said Treasury was 'proceeding with all deliberate speed' on the order.

The reserve has been filled with crypto seized by the government, and Treasury had no additional acquisition plans as of March. 'We are moving forward very quickly on that, and part of that is our digital assets initiative, the strategic Bitcoin reserve is something, this is new technology, this is new ground, we are proceeding with all deliberate speed, and we are making sure that as we are doing this in this complicated process, that we use best practices and things will be durable for the future,' Bessent said in response to questions raised by Senator Tim Scott.

United States

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