Treasury Secretary Pushes Congress to Act on Crypto Market Structure Legislation

Treasury Secretary Scott Bessent has called on Congress to expedite work on crypto market structure legislation, highlighting its importance in maintaining the US's competitiveness in the global digital asset market.

Bessent made his appeal during a Senate Appropriations Committee hearing as part of the review of the president's fiscal year 2027 budget request. He framed regulatory clarity for digital assets as a near-term priority rather than a distant goal, signaling that the executive branch views it as an urgent matter.

The Treasury Secretary urged lawmakers to pass crypto market structure rules, stressing that congressional delay could leave the US behind other jurisdictions implementing digital asset frameworks. He tied the issue to fiscal planning, noting that a regulatory vacuum around crypto markets creates uncertainty affecting tax collection, enforcement budgets, and Treasury's ability to monitor financial flows.

Bessent's call for legislative speed is centered on market structure legislation, which defines how digital asset markets are regulated in the US. This includes which agencies oversee exchanges and trading platforms, token classification, registration requirements for intermediaries, and mandated investor protections.