US Treasury Plans New Crypto Rules After CLARITY Act Setback

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.

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