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U.S. Treasury Urges Clarity Act for Crypto Regulations

4/9/2026

Summary

Story summary

U.S. Treasury Secretary Scott Bessent urged Congress to pass the Clarity Act establishing federal rules for digital assets.
He said the regulatory framework is unclear, prompting crypto development to move to Abu Dhabi and Singapore.
Bessent noted rules are inadequate for the crypto industry, which seeks certainty to operate in the United States.
The bill has faced delays due to disagreements between the banking and cryptocurrency sectors over stablecoin regulations.

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Story summary

U.S. Treasury Secretary Scott Bessent urged Congress to pass the Clarity Act establishing federal rules for digital assets.
He said the regulatory framework is unclear, prompting crypto development to move to Abu Dhabi and Singapore.
Bessent noted rules are inadequate for the crypto industry, which seeks certainty to operate in the United States.
The bill has faced delays due to disagreements between the banking and cryptocurrency sectors over stablecoin regulations.