Bessent Urges SEC-CFTC Collaboration to Advance Crypto Regulatory Framework

ChainThink reported on October 28 that U.S. Treasury Secretary Bessent, speaking at the Ripple Swell conference, said Treasury can work with the SEC and CFTC to advance the cryptocurrency regulatory framework through regulatory actions. He voiced disappointment that Congress did not pass the CLARITY Act and described the SEC and CFTC as "excellent partners." Bessent said the bill could have prevented a repeat of "debanking" and that, even without passage, similar situations can be avoided by setting regulatory best practices and protection mechanisms. He also said stablecoins will increase demand for the U.S. dollar and U.S. Treasury securities and become an important source of financing for the U.S. Department of the Treasury.