Bessent Warns Senators as Crypto Industry Eyes Regulatory Clarity and Ambitious Price Targets
US Treasury Secretary Scott Bessent has issued a warning to senators about the potential consequences of failing to advance the CLARITY Act, which aims to establish a comprehensive regulatory framework for digital assets.
Bessent said that if the bill doesn't pass, it would send a 'troubling signal' to US allies and adversaries alike that America is unwilling to lead on the future of digital assets.
Coinbase CEO Brian Armstrong, however, remains optimistic about the industry's prospects regardless of the bill's outcome. He believes that crypto will gain regulatory clarity either way, with the SEC and CFTC ready to publish rulemaking if the bill doesn't pass.
Bernstein analysts have even more ambitious predictions for Bitcoin's future price, expecting it to reach $150,000 by mid-2027 and $300,000 by late 2029, with a potential target of $500,000 in sight.