Bessent Floats Treasury Coordination on Crypto Oversight After CLARITY Act Stalls

U.S. Treasury Secretary Scott Bessent said Treasury could coordinate with the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) on crypto oversight after the Senate stalled a procedural step for the Digital Asset Market Clarity Act of 2025. During Ripple’s Swell conference on Oct. 27, Bessent called the Senate outcome disappointing and said, “At Treasury, we have a lot of convening powers.” He described possible agency coordination but announced no specific rule, directive to either regulator or timetable. Bessent also raised the prospect of regulators setting “best practices” and “guardrails” to address the risk of crypto companies losing access to banking services.

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