US Treasury Secretary Besson: Government has no right to rescue Bitcoin

On February 4th, US Treasury Secretary Besson stated during a congressional hearing that the Treasury Department and the Financial Stability Oversight Council (FSOC) have no authority to rescue Bitcoin or require banks to purchase Bitcoin as part of their reserves. Bessent emphasized that the money of American taxpayers will not be invested in cryptocurrency assets, and currently the government held Bitcoin is a confiscated asset by law enforcement, which is completely different from the funds managed on behalf of taxpayers.