U.S. Treasury Secretary Scott Bessent has urged Congress to pass a bill to create federal rules for digital assets, stating that the current regulatory framework for digital asset markets is unclear. The Clarity Act aims to establish federal rules, a bill that has been stalled by a disagreement between the banking and crypto industry over how the bill would treat interest and other rewards paid on stablecoins. Besset stated that these uncertainty had predictable consequences as companies relocate to other countries with clear rules. The House of ​Representatives passed its version of the bill in July.