Crypto News
Treasury Secretary Scott Bessent says the Treasury will work with the SEC and CFTC to address gaps in crypto regulation left by the stalled Clarity Act. He called Congress's failure to pass the bill a disappointment.
Why it matters
The statement shifts attention from legislation to coordination among existing federal agencies. How Treasury, the SEC and CFTC divide or align their roles could shape the regulatory environment for crypto businesses while Congress has not passed the bill.
Market impact
Bessent did not specify a timetable or outline particular rules. For Bitcoin and the wider crypto market, the immediate signal is that the administration intends to pursue regulatory work with the SEC and CFTC despite the legislative setback.
Frequently asked questions
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Which agencies will Treasury work with on crypto regulation?
Bessent said Treasury will work with the SEC and CFTC to address gaps left by the stalled Clarity Act.
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What did Bessent say about the Clarity Act?
He called Congress's failure to pass the bill a disappointment.
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Does Bessent's statement include a timetable for regulatory action?
No timetable was specified in the statement.
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What is the regulatory focus while the Clarity Act remains stalled?
The stated focus is work among Treasury, the SEC and CFTC to fill crypto regulation gaps.
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Why is the announcement relevant to Bitcoin?
It signals that crypto regulatory work will continue through federal agencies despite the legislative setback, a development relevant to Bitcoin and the wider crypto market.
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