Bessent Presses Senate to Pass CLARITY Act Amid Fading Deadline

U.S. Treasury Secretary Scott Bessent is urging the Senate to vote on the CLARITY Act before lawmakers leave for their August recess. In a post on X, Bessent called on the Senate to pass the bill 'NOW,' warning that further delays could weaken America's position in the global digital asset industry.

Bessent expressed frustration with some Senate Democrats who are hesitant to advance the bill due to concerns about opposition from Senator Elizabeth Warren and her perceived 'anti-crypto army.'

He also challenged Senate Majority Leader John Thune to put the legislation to a vote, questioning whether lawmakers would support American innovation or allow other countries to take the lead in the digital asset sector.

The Major Cities Chiefs Association (MCCA), one of the country's leading law enforcement organizations, has endorsed the latest version of the CLARITY Act. The group noted that revised sections of the bill now include state and local law enforcement agencies, giving them stronger authority to investigate digital asset-related financial crimes.