INTEL: Bessent says crypto can be America’s next tool for keeping the US dollar on top
US Treasury Secretary Scott Bessent said crypto can become America’s next tool for keeping the US dollar dominant, in remarks at Ripple’s conference. He also said action by the SEC and the CFTC could help fill the gap left by the failure of the Clarity Act.
The Clarity Act is the crypto market structure legislation. Bessent’s comments point to regulators, rather than Congress, as the route for setting rules for the industry now that the bill has failed.
Bessent also said that regulatory action could help curb crypto debanking, the practice of banks cutting off or refusing services to crypto firms and their customers.
The reported remarks give no timetable for any SEC or CFTC measures, and no specific rules were named. This is a developing story and will be updated if the Treasury or the agencies add detail.
