Opinion: U.S. Congress Must Pass Clarity Act to Lead Digital Asset Regulation
In this opinion piece, Scott Bessent argues that the United States must maintain its global leadership in financial regulation by enacting clear digital asset laws. The article highlights that while the U.S. has historically set the standard through credible enforcement and adaptability, this position is now at risk due to regulatory ambiguity. With nearly one in six Americans owning digital assets and major financial institutions integrating crypto products, the technology has moved beyond a niche experiment. Bessent urges Congress to pass the 'Clarity Act' immediately to provide necessary legal certainty. He warns that without legislative action, the U.S. risks losing its influence as other nations adopt blockchain infrastructure for payments and settlements, regardless of who chooses to lead the industry.
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Opinion: U.S. Congress Must Pass Clarity Act to Lead Digital Asset Regulation
In this opinion piece, Scott Bessent argues that the United States must maintain its global leadership in financial regulation by enacting clear digital asset laws. The article highlights that while the U.S. has historically set the standard through credible enforcement and adaptability, this position is now at risk due to regulatory ambiguity. With nearly one in six Americans owning digital assets and major financial institutions integrating crypto products, the technology has moved beyond a niche experiment. Bessent urges Congress to pass the 'Clarity Act' immediately to provide necessary legal certainty. He warns that without legislative action, the U.S. risks losing its influence as other nations adopt blockchain infrastructure for payments and settlements, regardless of who chooses to lead the industry.
WSJ.com: Markets