Bessent’s US crypto regulation update calls for closer agency coordination

Treasury Secretary Scott Bessent proposed closer cooperation among federal regulators on October 27, 2026, offering an update on US crypto regulation after the CLARITY Act stalled in the Senate. Speaking at Ripple’s Swell conference in New York, he outlined a role for Treasury, the SEC and the CFTC in addressing the legislative gap, while raising concerns about crypto businesses losing banking access. Key takeaways The CLARITY Act stalled on a 49–50 Senate procedural vote. Bessent proposed joint work by Treasury, the SEC and the CFTC. Dollar-linked stablecoins connect crypto adoption with Treasury debt demand.