The United States is ramping up efforts to regulate the fast-growing cryptocurrency sector, with Scott Bessent calling on lawmakers to act quickly.

In a fresh push, the U.S. Treasury Secretary urged Congress to pass the Clarity Act, a long-debated bill designed to establish clear federal rules for digital assets. Writing in The Wall Street Journal, Bessent warned that regulatory uncertainty is already driving crypto innovation overseas, News.Az reports.

According to Bessent, the lack of a consistent legal framework has created confusion for companies operating in the U.S. As a result, many firms are relocating to jurisdictions with clearer guidelines.

He pointed to hubs like Abu…