U.S. Hits Crypto Golden Age, Says Treasury Secretary Bessent—Here’s Why It Matters

The U.S. is riding the crest of a crypto revolution—and Treasury Secretary Bessent just stamped it with a bullish seal of approval. Forget 'wait-and-see'; this is full-throttle adoption.

Why now? Institutional money’s flooding in, regulation’s (finally) catching up, and Bitcoin’s acting less like a meme and more like a macro asset. Even Wall Street’s skeptics are quietly stacking sats—between martini lunches, of course.

But let’s not pop champagne yet. The 'Golden Age' label? Cute. Remember when they called CDOs 'financial innovation' too? Proceed with diamond hands—and maybe a risk management spreadsheet.

Ending the war on crypto

Bessent also highlighted America’s march to the “Golden Age of Crypto” in a speech on July 30 as the PWG report was released.

According to him, Trump’s election as the 47th U.S. president marked a key moment in the country’s crypto journey.

What that moment “ushered in stands in stark contrast to recent history”, he noted. Regulation is a key win.

“Before President TRUMP took office, digital assets endured a four-year siege from a hostile White House that took extraordinary measures to drive fintech innovation offshore,” Bessent said.

Things have changed since, with the previous administration’s “anti-crypto army” that dominated key government agencies now out. Crypto is now a central component of U.S. digital asset policy, and legitimate businesses can take advantage, particularly in areas such as Bitcoin mining and stablecoin issuance.

On July 31, SEC Chair Paul Atkins said Project Crypto aims to support Trump’s vision of making America the crypto capital of the world.

The SEC also eyes simple rules of engagement for the crypto market, one of the steps towards attracting crypto companies back to the U.S. SEC has also moved to encourage regulatory compliance with new listing standards for crypto exchange-traded funds.