Bessent Presses Senate to Advance Clarity Act Amid Crypto Regulatory Uncertainty

Treasury Secretary Scott Bessent is pressing the Senate to advance the CLARITY Act, a bill that would establish a comprehensive regulatory framework for digital assets and upgrade the government's ability to prevent bad actors from exploiting these technologies.

In a post on X, Bessent warned that further delays could weaken U.S. leadership in crypto and limit the government's ability to prevent digital assets from being misused. He reiterated his call from July, urging senators to remain at the negotiating table and agree to a motion to proceed with the bill.

The CLARITY Act would divide digital-asset oversight between the SEC and CFTC while adding consumer-protection and anti-money-laundering requirements. Bessent has argued that clearer rules could encourage crypto companies and investment to remain in the U.S., supporting dollar-backed stablecoins and making digital assets harder to use for illicit finance.