Bessent Calls on Senate to Pass Crypto Regulation Bill Before Recess

US Treasury Secretary Scott Bessent has come out in support of the Clarity Act, calling on Senate lawmakers to vote now. In a tweet, he urged Congress to pass the landmark legislation before its August recess. The bill aims to set clear regulations for the crypto industry in the world's largest economy.

Bessent also quoted Satoshi Nakamoto, saying 'If you don't believe me or don't get it, I don't have time to try to convince you.'

The Clarity Act has been drafted bipartisinally, but some Democrats are unhappy with its current version. Senator Elizabeth Warren has criticized the bill, claiming it would make it easier for criminals to move money and that it does not stop President Donald Trump from profiting from his presidency.