U.S. Treasury Secretary Scott Bessent has called for the advancement of the Clarity Act to stabilize the cryptocurrency market and restore investor confidence. In an interview with CNBC, Bessent highlighted the need for bipartisan cooperation to push forward market structure legislation, which has been stalled by certain crypto companies. He emphasized that providing clarity during the current market downturn is crucial and urged for the legislation to be ready for presidential signing by spring. Bessent noted that while Bitcoin's volatility is well-known, some recent fluctuations are "self-inflicted." He stressed the importance of reaching an agreement on the market structure bill by March 1, as it would offer significant reassurance to the market. Bessent also acknowledged the substantial innovation within the cryptocurrency sector, including blockchain and DeFi, underscoring the need for clear regulatory frameworks.