The U.S. Treasury Secretary urges Congress to pass the CLARITY Act as soon as possible.

Deep Tide TechFlow News: April 9, according to Cointelegraph, U.S. Treasury Secretary Scott Bessent wrote in The Wall Street Journal, urging Congress to pass the Digital Asset Market Clarity Act (CLARITY Act) as soon as possible to clarify regulatory rules for cryptocurrencies, tokenized assets, and decentralized exchanges. He warned that the global cryptocurrency market has reached $3 trillion, and that the United States’ leadership in financial innovation is facing tests; with limited time on the Senate agenda, legislation cannot be delayed.

The bill was passed by the House of Representatives in July 2025, but has continued to be stalled in the Senate due to issues with the regulatory classification of stablecoin yields. A report from the White House Council of Economic Advisers shows that banning stablecoin yields would have a negligible impact on bank lending, increasing only about $2.1 billion, yet would result in users losing about $800 million in welfare each year. In addition, the Treasury Department, based on the GENIUS Act, has proposed new rules requiring stablecoin issuers to establish anti-money laundering compliance systems and granting them the authority to freeze and intercept specific transactions.