{"id":24250,"date":"2026-04-09T11:43:52","date_gmt":"2026-04-09T11:43:52","guid":{"rendered":"https:\/\/businessprofittoday.com\/index.php\/2026\/04\/09\/treasury-secretary-bessent-pushes-urgent-crypto-law-warns-act-now-before-its-too-late\/"},"modified":"2026-04-09T11:43:52","modified_gmt":"2026-04-09T11:43:52","slug":"treasury-secretary-bessent-pushes-urgent-crypto-law-warns-act-now-before-its-too-late","status":"publish","type":"post","link":"https:\/\/businessprofittoday.com\/index.php\/2026\/04\/09\/treasury-secretary-bessent-pushes-urgent-crypto-law-warns-act-now-before-its-too-late\/","title":{"rendered":"Treasury Secretary Bessent Pushes Urgent Crypto Law, Warns \u201cAct Now Before It\u2019s Too Late\u201d\u00a0"},"content":{"rendered":"

The post Treasury Secretary Bessent Pushes Urgent Crypto Law, Warns \u201cAct Now Before It\u2019s Too Late\u201d\u00a0<\/a> appeared first on Coinpedia Fintech News<\/a><\/p>\n

U.S. Treasury Secretary Scott Bessent is urging Congress to pass legislation on the structure of the crypto market quickly, warning that delays could hurt America\u2019s leadership in digital assets. However, unclear U.S. rules are pushing crypto to hubs like Singapore and Abu Dhabi.<\/p>\n

Therefore, he framed the issue as a national priority, saying, “We must act now before it\u2019s too late.”<\/p>\n

Bessent Calls Crypto Law a National Priority<\/h2>\n

In a recent opinion piece<\/a>, Bessent framed crypto regulation as a national priority, saying economic security is tied to digital asset leadership. He urged lawmakers to pass the Clarity Act immediately, stating that delays could push innovation overseas.<\/p>\n

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\u201cSenate floor time is scarce, and now is the time to act.\u201d<\/p>\n<\/blockquote>\n

However, the bill has already been stalled in the Senate for more than 260 days, raising concerns that pressure from the upcoming midterm election could delay it further.<\/p>\n

The timing is critical. Nearly 1 in 6 Americans now owns digital assets, and major financial institutions are already launching crypto-related products. Blockchain infrastructure is also expanding into payments, settlements, and tokenized real-world assets.<\/p>\n

Even Senator Cynthia Lummis backed Bessent’s views, saying, \u201cNow is the time to act. We have the Administration, the momentum, and we\u2019ve made bipartisan progress. Congress must pass the Clarity Act now.\u201d<\/p>\n

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.@SecScottBessent<\/a> says it best: Now is the time to act.<\/p>\n

We have the Administration, the momentum, and we\u2019ve made bipartisan progress. Congress must pass the Clarity Act now.https:\/\/t.co\/hNSysf4tq8<\/a><\/p>\n

— Senator Cynthia Lummis (@SenLummis) April 9, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Stablecoin Rewards Debate Slowing Progress<\/h2>\n

The biggest roadblock to the legislation has been disagreements over stablecoin rewards. Banking groups argue that allowing yield on stablecoins could pull deposits from traditional banks.<\/p>\n

Recently, Coinpedia news<\/a> reported that White House economic analysis suggests the impact would be minimal. Banning stablecoin rewards would increase bank lending by just 0.02%, equal to about $2.1 billion.<\/p>\n

Most of that benefit would go to large banks, with limited effect on community lenders.<\/p>\n

\u201cWindow for Action\u201d Closing<\/h2>\n

Bessent warned that if Congress fails to act, the U.S. could lose its leadership in digital finance. He noted that unclear rules have already pushed crypto development to places like Singapore and Abu Dhabi, where firms benefit from clearer regulatory frameworks.<\/p>\n

He also warned that upcoming election pressures could narrow the window for passing legislation. <\/p>\n

If delays continue, the U.S. risks falling further behind as other countries move faster on crypto regulation.<\/p>\n

<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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