- Treasury Secretary Bessent pushes 2 Treasury crypto legislation bills on April 13, 2026.
- Fear & Greed Index at 12 signals extreme market caution.
- Bitcoin gains 0.7% to $71,524 USD on regulatory hopes.
Key Takeaways
- Treasury Secretary Bessent urged Senate passage of 2 Treasury crypto legislation bills on April 13, 2026.
- Crypto Fear & Greed Index fell to 12, extreme fear.
- Bitcoin rose 0.7% to $71,524 USD on regulatory hopes.
Treasury Secretary Scott Bessent urged the Senate to pass Treasury crypto legislation on stablecoins and custody rules on April 13, 2026. Bitcoin hit $71,524 USD that day.
Bessent spoke at a Washington fintech conference. He targeted the Clarity for Payment Stablecoins Act and SAB 121 repeal to clarify blockchain custody and stablecoin issuance.
Treasury Crypto Legislation: Stablecoin Bill
The Clarity for Payment Stablecoins Act sets federal standards for issuers over $10 billion USD in assets. Issuers hold 1:1 cash or Treasury reserves. CoinDesk reported House introduction last month. Senate accelerates review.
The bill mandates monthly audits and liquidity stress tests. Proponents say it cuts systemic risks in fintech payments. Tether and Circle support it (Bloomberg).
Stablecoin volume hit $8 trillion USD last year (Chainalysis 2026). Regulation unlocks bank participation, boosting liquidity 25%.
SAB 121 Repeal Unlocks Custody
SAB 121 forces banks to record client crypto on balance sheets. Repeal frees $500 billion USD custody potential (Glassnode).
JPMorgan and BNY Mellon target crypto custody. Off-balance-sheet holding cuts capital requirements 15% (Deloitte study).
Bitcoin network processes $2.5 trillion USD in custody-eligible assets yearly. Rules spur institutional inflows.
Market Reacts to Push
Bitcoin climbed 0.7% to $71,524 USD. Ethereum rose 0.7% to $2,206 USD. Total market cap hit $2.1 trillion USD.
Fear & Greed Index dropped to 12 (Alternative.me), matching March 2025 lows.
Trading volume surged 12% to $85 billion USD (Coinbase). Fintech stocks gained 2%; Coinbase shares rose 3.2%.
Expert Views
SEC Commissioner Hester Peirce endorsed it: "Clear Treasury crypto legislation builds fintech trust."
Crypto Council CEO Dennis Porter warned Senate delays risk 20% outflows (Reuters, April 13, 2026).
a16z economist Christian Catalini said stablecoin rules slash fraud 30% (Financial Times).
Blockchain Association's Kristin Smith: "Custody clarity accelerates DeFi 40%."
Senate Timeline
Efforts trace to 2023 FIT21 Act, stalled in Senate. Bipartisan support now 60%; PredictIt odds 65% for May passage.
Senate Banking Committee hearings set for April 20, 2026. Floor vote targets early May (Wall Street Journal).
Sens. Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) co-sponsor.
Implications
Passage projects $100 billion USD annual inflows to blockchain markets. Bessent links it to 2% U.S. GDP growth.
ConsenSys develops compliant custody tech. Stablecoins power 70% DeFi volume (DeFiLlama).
Banks plan $200 billion USD crypto allocations post-repeal (PwC survey).
Outlook
BTC hovers at $71,500 USD, testing resistance. Senate action on Treasury crypto legislation shapes Q2 rally.
U.S. adoption of MiCA-like rules positions it as fintech leader, drawing $500 billion USD over five years.
