The U.S. Department of the Treasury is holding a series of confidential discussions this week with cryptocurrency executives and policymakers, according to a May 12 report by Crypto in America. The initiative is a focused effort by the department to develop more effective regulations for digital assets, including operational vulnerabilities in decentralized finance and challenges faced by crypto entities within the U.S. financial system.
The Treasury has assembled senior officials from multiple branches, including the Office of Terrorism and Financial Intelligence and the Office of Cybersecurity and Critical Infrastructure Protection, to meet directly with select participants from leading blockchain firms and crypto advocacy groups. These discussions are being held under the Chatham House Rule, which allows ideas to be shared and referenced, but without naming the contributors.
Throughout the week, four separate roundtables—each lasting 75 minutes—will take place behind closed doors. Individuals familiar with the plan revealed that topics on the table include stablecoins, DeFi platforms, institutional banking access, and digital infrastructure security. One of the sessions, planned for May 15, will delve into the regulatory landscape surrounding stablecoins, focusing on tools to detect and disrupt illegal activity tied to these dollar-pegged assets. The Treasury is expected to explore how exchanges and issuers can better manage counterparty exposure, monitor secondary markets, and implement wallet-freeze functions.
These discussions follow legislative developments in the Senate, where the Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 (GENIUS Act) stalled in a recent procedural vote. The Treasury has been assisting lawmakers with technical recommendations for the bill, especially in light of objections tied to potential overreach and privacy concerns. While no outcomes from the roundtables will be publicly attributed, the sessions are seen as a pivotal step in aligning regulatory intentions with on-the-ground industry realities.
Last week, Treasury Secretary Scott Bessent criticized the Senate’s failure to advance the GENIUS Act, calling it a missed opportunity for U.S. leadership in financial innovation. He opined: “This bill represents a once-in-a-generation opportunity to expand dollar dominance and U.S. influence in financial innovation.”
The broader regulatory landscape has shifted in recent months. The U.S. Securities and Exchange Commission (SEC) is conducting its own crypto-focused roundtables to increase dialogue with industry leaders, following widespread criticism of its earlier enforcement-centric strategy. Since the departure of former Chair Gary Gensler, the SEC has altered course under Paul Atkins. These changes align with the Trump administration’s broader pro-crypto stance, which has included calls for regulatory clarity and support for blockchain innovation. Within this context, Treasury’s ongoing discussions are viewed as a complementary effort to shape a more balanced and informed approach to digital asset oversight.
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