Browsing: treasury

Treasury Secretary Scott Bessent’s push for a swift Senate vote on the Clarity Act catalyzed a modest cryptocurrency market recovery on July 31, with total market capitalization reaching $2.2 trillion. Bitcoin briefly surpassed $65,000, while BNB surged over 3%. The administration’s urgency stems from concerns that impending summer recesses and potential political transitions could stall…

The dual banking system is a cornerstone of U.S. financial regulation, allowing banks to choose a charter under either federal or state authority. For stablecoins, the Treasury’s rule extends this concept by requiring issuers to satisfy the requirements of both levels of government. In accordance with the proposal, stablecoin issuers must obtain registration from a…