#CryptoMarketSeesVolatility

U.S. Treasury Secretary Janet Yellen urged Congress to pass digital asset legislation this week, representing one of the most direct appeals from a high-ranking government official for urgent action on cryptocurrency regulation.

Biden's efforts, first reported through a Treasury Department press release, put the issue directly on Congress's agenda at a time when numerous bills related to digital assets are being discussed in both chambers.
What Biden is asking Congress this week
The Treasury Secretary's request is specific in scope and timing: to pass digital asset legislation during the current legislative week. This urgent tone distinguishes this request from previous administration statements that expressed general support for cryptocurrency policy without a set deadline.

This request comes at a time when the House has already shown a bipartisan willingness to regulate cryptocurrencies. House members passed the "Clarity" bill, supported by both parties, a bill that more than 100 groups from the crypto industry urged the Senate to pass.