U.S. Treasury pushes Clarity Act, advances bitcoin reserve plan

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Clarity Act & bitcoin reserve

Highlights

U.S. Treasury urges Congress to pass the Clarity Act this summer, aiming to establish first-ever federal digital asset regulations before November elections.
Treasury advances plans for a strategic bitcoin reserve funded by seized bitcoin, acting under an executive order signed early in the Trump administration.
Administration pairs push for market structure rules with direct federal crypto asset holdings, signaling intent for durable and integrated U.S. digital asset policy.

Legislative push and reserve timeline

As reported by The Block, Bessent tells lawmakers during a Senate Finance Committee hearing on the 2027 budget that the Treasury Department is pressing ahead on two major crypto priorities, passage of the Clarity Act and the creation of a strategic bitcoin reserve.

Bessent urges Congress to "get behind" the market structure bill, saying it is necessary to bring U.S. best practices onshore and support custody of digital assets. He says he wants the Clarity Act approved this summer, as lawmakers face a narrowing window before attention shifts more heavily to budget legislation and the November midterm elections.

The bill would create federal regulation for the digital asset industry for the first time. A version passed the full House last year, but it remains stalled in the Senate amid disputes over stablecoin rewards, protections for software developers and conflicts of interest linked to President Donald Trump's crypto ventures.

On the reserve, Bessent says Treasury is moving forward under an executive order signed by Trump in the first months of the new administration. The reserve is set to be funded mainly with bitcoin already held by the government through criminal and civil forfeitures, alongside a separate digital asset stockpile.

Implications for U.S. crypto policy

Bessent describes the reserve buildout as a complicated process and says officials are trying to ensure the framework is durable for the future. His comments follow April remarks from Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, who said a major announcement on next steps would come within weeks.

The dual effort shows the administration is trying to pair market rules with direct federal involvement in digital asset holdings. If the Clarity Act advances this summer, it could give the U.S. crypto sector a clearer regulatory framework at the same time the government formalizes its own bitcoin strategy.

Our previous report on the U.S. Treasury’s 2027 budget testimony to the Senate Finance Committee outlined the administration’s broader economic agenda, including tax relief measures, manufacturing and trade goals, and an aggressive deregulatory push. We also highlighted initiatives such as Trump Accounts and Treasury’s claims around refund growth and avoided tax increases—context that frames the department’s current policy priorities as it addresses digital-asset legislation and a potential strategic bitcoin reserve.

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