Bessent Demands Senate Advance Cryptocurrency Regulation Bill

Scott Bessent has called on the US Senate to advance the CLARITY Act, a proposal aimed at regulating cryptocurrency.

The fate of the bill will be determined in a procedural vote scheduled for September 15th, which requires at least seven Democratic votes alongside the 53 Republican backers it already has.

Congresswoman Cynthia Lummis warned that failing to pass this legislation would weaken the US in its competition with China, emphasizing the importance of clear regulatory guidelines for the industry.