U.S. Treasury Secretary Scott Besenst published an article in The Wall Street Journal on Wednesday, urging Congress to pass the Digital Asset Market Transparency Act without delay and emphasizing that little time remained in the Senate’s schedule. The bill aims to establish a clear regulatory framework for cryptocurrencies, tokenized assets, and decentralized exchanges. Besenst noted that the global crypto market has reached a size of $3 trillion, and nearly one-sixth of U.S. residents hold such assets. The legislative process is directly related to the United States’ ability to maintain its leadership in financial innovation.

Although the House of Representatives passed the bill in July 2025, the Senate remains stuck over disputes regarding stablecoin yields. Traditional financial institutions are concerned that such yields could undermine bank lending activities. As a result, supporters of the industry and conservatives have opposing views on this matter: the former see it as crucial for competitiveness, while the latter worry about systemic risks.

According to Monitored by Woofun AI, a recent report by the White House Economic Advisory Committee strongly counters these concerns. The data shows that banning stablecoin yields would only increase U.S. bank loans by $2.1 billion, amounting to 0.02% of the total $12 trillion in loans, while community banks would benefit by only $500 million. In contrast, if the ban is implemented, users would lose $800 million in annual earnings.

President Donald Trump also criticized banking groups for using these disagreements to hold the Transparency Act and the GENIUS Act hostage. In response, the Treasury Department issued new regulations under the GENIUS Act, requiring stablecoin issuers to implement anti-money laundering and counter-terrorism financing measures and giving them the authority to freeze or reject specific transactions. This means that stablecoin issuers will essentially be brought under the jurisdiction of the Bank Secrecy Act and subjected to quasi-bank regulatory oversight.

Snir Levy, CEO of Nominis, warned that if these regulations are enforced, it could lead to a surge in risks such as widespread wallet freezes, transaction disruptions, and even asset seizures.