Bessent Calls for Senate Action on Digital Asset Bill Ahead of Procedural Vote

U.S. Treasury Secretary Scott Bessent has called on lawmakers to continue working on the CLARITY Act, a bill aimed at establishing a comprehensive regulatory framework for digital assets.

In a statement posted on X, Bessent urged senators to remain at the negotiating table and agree to the motion to proceed with the legislation when they return from the August recess.

The Treasury secretary warned that failing to advance the bill could send a 'troubling signal' to allies and adversaries alike, indicating that America is unwilling to lead on digital assets and willing to forgo enhanced national security tools.

Bessent emphasized that the CLARITY Act would establish federal rules for digital assets and define the respective regulatory roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission.