Bessent Backs Clarity Act While Advancing Bitcoin Reserve Plan

TLDR

• Scott Bessent confirmed the US is advancing the Strategic Bitcoin Reserve with deliberate speed.
• Bessent urged Congress to pass the Clarity Act before the summer legislative deadline.
• He linked economic security to national security during the Senate Finance Committee hearing.
• The Strategic Bitcoin Reserve currently holds about 328,372 BTC valued at nearly $25 billion.
• All bitcoin holdings in the reserve came from criminal forfeitures and enforcement actions.

Treasury Secretary Scott Bessent confirmed progress on a U.S. Bitcoin reserve while urging lawmakers to pass crypto legislation. He told the Senate Finance Committee that officials are advancing the reserve with caution and speed. He also asked Congress to approve the Clarity Act before the summer ends.

Bessent Urges Legal Clarity as Reserve Plan Advances

Bessent addressed senators during a budget hearing and outlined the administration’s digital asset priorities. He linked economic policy with national security goals and stressed the need for coordinated action. He said, “Economic security is national security,” while defending the administration’s direction.

He referenced earlier remarks delivered at a national economic forum and repeated concerns about past policy gaps. Bassent stated that the United States had lagged in economic strategy for decades. He added that current leadership is working to reverse that trend through focused initiatives.

He explained that the Strategic Bitcoin Reserve continues to move forward under federal oversight. He said officials are applying tested financial practices while adapting to new technology demands. He added, “We are proceeding with all deliberate speed,” to describe the current pace.

He acknowledged operational challenges but confirmed that planning continues without delays. Bassinet described the reserve as a complex program that requires careful design and coordination. He maintained that the administration will ensure long-term durability in its structure.

Clarity Act Gains Support Alongside Bitcoin Reserve Plan

Bessent called on Congress to approve the Clarity Act as part of the broader digital asset agenda. He stated that lawmakers should finalize the bill before the current legislative window closes. He said, “I look forward to the Clarity Act being passed this summer,” during the hearing.

The Clarity Act aims to define whether digital assets qualify as securities or commodities under federal law. The Senate Banking Committee approved the bill earlier with a 15-9 vote. Lawmakers continue to review key provisions before advancing them to a full vote.

Meanwhile, the Strategic Bitcoin Reserve was created through an executive order signed on March 6, 2025. The reserve currently holds about 328,372 BTC, valued at nearly $25 billion based on market prices. Authorities acquired all holdings through forfeitures and enforcement actions.

The executive order restricts any sale of the reserve’s bitcoin holdings. It also directs the Treasury to explore budget-neutral methods to increase its position over time. Officials continue to review options that align with fiscal policy requirements.

Senator Cynthia Lummis introduced the BITCOIN Act to provide a statutory framework for the reserve. The proposal would allow the Treasury to purchase 200,000 BTC annually for five years. It also requires holding the assets for at least 20 years.

Without congressional approval, the reserve remains subject to executive authority. A future administration could revise or revoke the current order. Bessent emphasized the need for legislative backing to secure the program’s future.

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