US Treasury Plans New Crypto Rules After CLARITY Act Setback

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The US government isn’t waiting for Congress to settle the debate over cryptocurrency regulation. Speaking at Ripple’s Swell conference in New York on October 27, Treasury Secretary Scott Bessent outlined how federal regulators could move forward after the CLARITY Act failed to advance in the Senate. His proposal involves closer cooperation between the Treasury Department, the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC). For crypto companies still waiting for clearer operating rules, the message was encouraging. Washington wants to keep moving. The question is how much regulators can accomplish without new legislation. TL;DR Treasury Secretary Scott Bessent plans to coordinate with the SEC and CFTC following the CLARITY Act’s failure in the Senate. Bessent also highlighted stablecoins as an important tool for strengthening the US dollar and supporting demand for Treasury securities. We expect regulatory coordination to continue, although agency-led rules may not provide the same certainty as legislation. Bessent Outlines A New Approac...