Senator Cynthia Lummis has praised the Trump administration’s latest efforts to advance a Strategic Bitcoin Reserve and establish a clear regulatory framework for digital assets in the United States.
“A few years ago, they called our idea fringe. Today, the Treasury Secretary testified before the Senate Finance Committee about building a Strategic Bitcoin Reserve and passing the CLARITY Act,” Lummis wrote on X following a Senate hearing on Wednesday.
A few years ago, they called our idea fringe. Today the Treasury Secretary @SecScottBessent testified before the Senate Finance Committee about building a Strategic Bitcoin Reserve and passing the Clarity Act. This is what winning looks like! https://t.co/7H51Ife4He
— Senator Cynthia Lummis (@SenLummis) June 3, 2026
Her comments came after U.S. Treasury Secretary Scott Bessent confirmed that the administration remains committed to developing a Strategic Bitcoin Reserve, describing the initiative as part of broader efforts to strengthen the country’s economic position.
Treasury secretary reaffirms Bitcoin reserve plans
Speaking before the Senate Finance Committee, Bessent said the Strategic Bitcoin Reserve remains a priority for the administration and is tied to long-term economic and national security objectives.
He emphasized that officials are taking a careful approach as they develop the framework for the reserve, noting that Bitcoin and digital assets represent a new area for government policy.
Bessent said the administration is moving forward under President Donald Trump’s executive order establishing the reserve while ensuring that any actions taken are sustainable and effective over the long term.
According to the Treasury Secretary, digital assets are becoming an increasingly important part of the administration’s economic agenda as the United States seeks to remain competitive in emerging financial technologies.
Administration takes measured approach
While reaffirming support for the reserve, Bessent stressed that officials are proceeding cautiously due to the complexity of the initiative.
He noted that policymakers are working to implement best practices and create a structure that can endure beyond the current administration. The Treasury Department is continuing to evaluate the details of the reserve while coordinating broader digital asset policies.
His remarks follow recent comments from Trump’s crypto adviser, Patrick Witt, who suggested that a major announcement regarding a national Bitcoin reserve could arrive in the coming weeks.
CLARITY Act moves forward
Beyond the Bitcoin reserve, Bessent renewed his call for Congress to pass the CLARITY Act, a bill to establish federal rules for digital assets.
“I look forward to the CLARITY Act being passed this summer,” Bessent said during the hearing.
The legislation has become one of the most closely watched crypto bills in Washington. After recently being placed on the Senate’s legislative calendar, market participants are increasingly expecting the measure to move toward a full Senate vote in the months ahead.
Supporters argue that the bill would provide long-awaited regulatory certainty for the crypto industry while helping the United States maintain its leadership position in digital asset innovation.
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