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U.S. Treasury Secretary Scott Bessent testified before Congress that the U.S. government will retain Bitcoin obtained through asset confiscation but will not instruct private banks to increase BTC holdings during market downturns, nor does it have the authority to "rescue Bitcoin." In a Q&A with California Congressman and long-time cryptocurrency critic Brad Sherman, Bessent emphasized that neither he nor the Financial Stability Oversight Council (FSOC) has relevant authority, and disclosed that the value of seized BTC held by the government has increased from approximately $500 million to over $15 billion. (Cointelegraph)