U.S. Treasury Secretary Scott Bessent announced the start of a 'Golden Age of Crypto', potentially changing the national policy towards digital assets.
Announcement of the 'Golden Age of Crypto'
On August 1, 2025, Scott Bessent, the U.S. Treasury Secretary, declared that the U.S. has entered a 'Golden Age of Crypto', which may positively impact the country's policy on digital assets. This denotes a commitment to advancing blockchain and digital payment systems with increased regulatory support.
Focus on Decentralized Finance
Secretary Bessent emphasized a focus on innovation in decentralized finance. He mentioned plans to launch companies and protocols domestically to position the U.S. as a leader in blockchain.
Market Responds Cautiously
The immediate market reaction to the announcement was cautious. Bitcoin and the iShares Bitcoin ETF both saw declines, reflecting uncertainty despite potential increased institutional interest.
Bessent's announcement may lead to a friendlier regulatory environment for cryptocurrencies, contrasting with previous administrations and potentially supporting U.S. dominance in the global blockchain and decentralized finance sectors.
