Treasury Secretary Bessent declares the "Golden Age of Cryptocurrency"

## "The United States has entered the golden age of virtual currency"

U.S. Treasury Secretary Scott Bessen declared on X on the 1st, "The United States has entered a golden age of virtual currency." He stated the aim is to explore new possibilities in distributed computing and digital payments, and to unlock the potential of blockchain technology.

The comments made by Treasury Secretary Bessent are in response to this week's White House report release. The Trump White House officially declared the arrival of the "golden age of cryptocurrency" on the 30th by publishing a comprehensive 168-page report on cryptocurrency regulation.

The report covers recommendations on banking operations, cryptocurrency reserves, stablecoins, tax systems, and anti-money laundering measures. Additionally, Secretary of the Treasury Janet Yellen, Secretary of Commerce Gina Raimondo, and SEC Chairman Gary Gensler are also participating in the White House's Digital Asset Market Working Group, which is responsible for the preparation of the report.

On the 31st, SEC Chairman Atkins announced the launch of "Project Crypto," aimed at modernizing securities regulations, clearly indicating the proactive collaboration of regulatory agencies. He expressed the view that most virtual currencies are not securities and aims to resolve the confusion surrounding the application of the Howey Test.

Industry stakeholders are evaluating the report as an important step in providing legal and regulatory clarity. James Butterfill, Head of Research at CoinShares, described it as "extremely ambitious and intellectually clear."

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