Scott Bessent says Treasury will work with the SEC and CFTC to close crypto rule gaps after the CLARITY Act stalled

OPENING
Scott Bessent says Treasury will work with the SEC and CFTC to close crypto rule gaps after the CLARITY Act stalled.
KEY DETAILS
- Speaking at Ripple's Swell conference, US Treasury Secretary Scott Bessent called Congress's failure to pass the CLARITY Act a disappointment.
- Bessent said Treasury will use its convening power to bring the SEC and CFTC together to close the gaps through regulation.
- Bessent also said Treasury will push for industry standards and protections to reduce the debanking of crypto firms.
WHY IT MATTERS
Agency action may fill in while legislation is stuck. (Analysis, not a confirmed fact.)
IMPORTANT CONTEXT
- This is a statement of direction, not a finished rule; no timeline or specific rule text was announced.
- Rules written by regulators can be revised by future regulators or challenged in court, unlike a law passed by Congress.
- This article is informational and is not financial advice. Digital assets are volatile.
SOURCE
- Primary / main source: https://investinglive.com/cryptocurrency/bessent-says-sec-and-cftc-can-fill-the-clarity-act-gap-but-agency-rules-come-with-an-expiry-risk/
- Supporting: https://coinpedia.org/news/ripple-xrp-news-garlinghouse-celebrates-occ-charter-as-bessent-promises-clarity-act-workaround-at-swell/
#CryptoRegulation #SEC #CFTC