Odaily Planet Daily reports: U.S. Treasury Secretary Bessent said at the Ripple Swell conference that Congress’s failure to pass the CLARITY Act was disappointing, but the Treasury has “significant convening power” and can work with the SEC and CFTC to advance a crypto regulatory framework through agency action. He called the two agencies “excellent partners.” Bessent said the CLARITY Act could have prevented a repeat of “debanking,” but regulatory best practices and safeguards can still be established to prevent such incidents from happening again. He also said stablecoins will increase demand for the U.S. dollar and Treasury securities, becoming an important source of financing for the U.S. Treasury.