U.S. Treasury Secretary Scott Bessent stated at a Senate Finance Committee hearing that the Treasury is "proceeding cautiously" with the strategic Bitcoin reserves and digital asset reserves mandated by the Trump executive order, and he said that the related work involves new technologies and new fields, requiring the adoption of best practices that can be sustained long-term. Bessent also mentioned that the U.S. government is promoting progress in digital asset legislation and encouraging support for the CLARITY Act to keep digital asset businesses and regulatory frameworks within the United States. The U.S. currently holds approximately 328.4k BTC, valued at about $21.5 billion. (Trading View)

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GateUser-cbb8cdf5
· 2h ago
Leaving regulation in the United States implies the subtext is not to go to Singapore.
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APeacockSpreadingItsTailLooks
· 2h ago
328.4k BTC, this position is much larger than my wallet.
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MorningLightInAGlassBottle
· 2h ago
The Ministry of Finance trading cryptocurrencies—who would have dared to write this plot in 2020?
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Orange-FlavoredColdWallet
· 2h ago
Bessent's phrasing, an old hand in Web3.
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PfpArchaeologist
· 2h ago
The CLARITY Act sounds like it’s giving green cards to the crypto industry.
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GateUser-7df43e29
· 2h ago
New technology, new field, translation: We are still in a meeting
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GateUser-2d7346e0
· 2h ago
Best practices, four characters, probably enough to discuss for three years
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PatchNotes
· 2h ago
$21.5 billion sitting idle, I would have FOMOed long ago.
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MemeFisher
· 2h ago
Cautious speed = half a beat behind?
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NonceNomad
· 2h ago
Strategic reserves = long-term holders, does the U.S. government also make regular investments?
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