TechFlow News, April 9: According to a Cointelegraph report, U.S. Treasury Secretary Scott Bessent published an op-ed in The Wall Street Journal urging Congress to swiftly pass the Cryptocurrency and Ledger Asset Regulatory Clarity Act (CLARITY Act) to clarify regulatory rules for cryptocurrencies, tokenized assets, and decentralized exchanges. He warned that the global cryptocurrency market has reached $3 trillion, challenging America’s leadership in financial innovation, and stressed that with limited time remaining on the Senate’s legislative agenda, delays are unacceptable.
The bill passed the House of Representatives in July 2025 but has remained stalled in the Senate over disagreements regarding the regulatory classification of stablecoin yield. A report by the White House Council of Economic Advisers found that banning stablecoin yield would have a negligible impact on bank lending—increasing it by only approximately $2.1 billion—while costing users roughly $800 million annually in welfare losses. Additionally, under the GENIUS Act, the Treasury Department has proposed new rules requiring stablecoin issuers to establish anti-money laundering (AML) compliance programs and granting them authority to freeze or intercept specific transactions.
