Scott Bessent declares Trump ushers in Crypto's 'Golden Age' in US

The Treasury Secretary Scott Bessent publicly declared that the United States has entered a “golden age of crypto” under the Trump administration in a series of public statements this week.

This highlights a dramatic policy shift from the decisions made by the previous administration and outlines an ambitious agenda to establish American dominance in digital assets.

On August 1, 2025, Bessent shared a post on X (formerly Twitter) where he asked cryptocurrency entrepreneurs to start their businesses in the U.S. considering it a flourishing market.

He wrote: “The U.S. has entered the Golden Age of Crypto. Under POTUS, we are exploring new possibilities in decentralized computing and digital payments to unlock the potential of blockchain technology. So start your companies here. Launch your protocols here. And hire your workers here.”

It represents that the Treasury Department is actively working to explore blockchain applications for payments and decentralizing computing.

The announcement was made one day after the launch of “Project Crypto” by the U.S. Securities and Exchange Commission (SEC).

This project aims to develop regulatory frameworks for digital assets.

In his remarks, Bessent has highlighted two landmark legislative achievements that fuels the crypto advancements in the country.

First is the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act which offers federal recognition for dollar-backed stablecoins.

The other one is the Digital Asset Market Clarity (CLARITY) Act that aims to establish a clear regulatory framework for digital assets in the United States.

The Treasury Secretary further affirmed that these measures are significant for maintaining dollar dominance in a rapidly evolving digital global economy contending that they will reduce borrowing costs while expanding demands for U.S. Treasury instruments.

The recent push for crypto by the Trump administration involves personnel changes with tech entrepreneur David Sacks hired as the nation’s first AI and Crypto Czar and several high-profile SEC enforcement cases against crypto firms being dropped silently.

Bessent mentioned that these moves are made to correct the “wrongs” of previous leadership though he cautioned that full implementation requires Senate approval of pending legislation.

Industry analysts mark this policy reversal as the U.S. attempts to compete in the rapidly growing crypto and blockchain market, as multiple nations vie to establish regulatory frameworks for digital assets.