#BTC Hits 97K

U.S. Treasury Secretary Advocates for Crypto Leadership as BTC Hits $97K**

**Key Highlights:**
- **Scott Bessent**, U.S. Treasury Secretary, emphasized that the U.S. must dominate the digital asset space globally.
- Speaking at a **House Financial Services Committee** hearing, Bessent urged Congress to establish a robust regulatory framework to promote "best market practices worldwide."
- Appointed by **President Trump** and confirmed in January, Bessent is known for his pro-crypto stance, calling the crypto economy "here to stay."

**Regulatory Push:**
- A draft **crypto regulation bill** was unveiled by House Republicans, proposing:
- Clearer roles for the **SEC** and **CFTC**.
- New **disclosure requirements** for market participants.
- Democrats raised concerns over **Trump-linked crypto ventures**, including a **memecoin launch** and a **stablecoin** by *World Liberty Financial*. Some lawmakers even boycotted the session.

**Political Divide:**
- While Democrats like **Rep. Angie Craig** called for bipartisan cooperation, others questioned Trump’s influence on crypto policy.

**Market Context:**
- The hearing coincided with **BTC soaring to $97K**, underscoring the urgency of regulatory clarity.