Scott Bessent: No Right to Requiring Banks to Buy Bitcoin, Nor Will Taxpayers Use Tax Funds for Investment On February 4, 2026, U.S. Treasury Secretary Scott Bessent stated clearly at a congressional hearing that the Treasury Department and the Financial Stability Oversight Council (FSOC) have neither the authority to "guarantee" Bitcoin nor the authority to require commercial banks to purchase Bitcoin or to amend regulatory rules to encourage allocation. He emphasized that taxpayers' funds will not be used to invest in crypto assets; regarding the Bitcoin currently held by the government, he clarified that it is seized judicial assets, not an investment made using tax revenue. Source: DWS News