Transatlantic Crypto Framework Unveiled as CLARITY Act Hits Roadblock
The cryptocurrency market saw a boost in value as the total market cap surged by 1.5% overnight, reaching $2.29 trillion. The US Department of the Treasury published a joint statement with the United Kingdom outlining an expanded transatlantic digital asset framework covering stablecoins, tokenization, payments, and artificial intelligence.
The framework focuses on establishing comparable standards for stablecoin reserves, requiring high-quality, liquid assets that are at least one-to-one with the issued stablecoins. The US officials discussed the GENIUS Act, a stablecoin law enacted in July 2025, for which the FDIC is proposing regulations, including reserves and redemption practices.
Meanwhile, back in Washington, the CLARITY Act, a landmark domestic bill that would establish the first comprehensive federal framework for crypto market structure, has stalled in the Senate. The chamber's August recess is just hours away, and analysts suggest the Senate may be ten votes short of the 60 needed for cloture.