Bessent says Treasury will work through SEC and CFTC after CLARITY Act stalls
In FocusPolicy & Regulation8 flashes · 5 stories
Treasury Secretary Scott Bessent told Ripple's Swell conference in New York on Oct. 27 that Congress's failure to pass the CLARITY Act was a disappointment, but that Treasury can push crypto oversight forward with the SEC and CFTC through agency action. He grouped digital assets with AI and chips in the technology race with China and noted that more than 90% of stablecoins are tied to the dollar and often backed by Treasuries. Rules made by agencies would not carry the durability of a statute. Source: CoinDesk