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U.S. Treasury Secretary Backs Clarity Act to Stabilize Crypto Amid Bitcoin Volatility

U.S. Treasury Secretary Scott Bessent said advancing stalled cryptocurrency legislation, including the Clarity Act and market structure measures, would stabilize the weak market and restore investor confidence during historic selloffs, DL News and ChainCatcher report. He described some current Bitcoin fluctuations as "self-inflicted" and said clarity on the Clarity Act "would offer significant reassurance" to the market. Bessent said a group of Democrats is eager to collaborate with Republicans on market structure legislation, while certain crypto companies have obstructed progress, and called for the crypto industry and banking sector to reach agreement on the market structure bill by March 1, with legislation pushed for presidential signing by spring.
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