Bessent Presses Senate to Pass Crypto Regulation Bill Before Recess

U.S. Treasury Secretary Scott Bessent is calling on the Senate to vote on the CLARITY Act, a bill aimed at regulating the crypto market structure, before lawmakers leave for their August recess.

Bessent warned that further delays could weaken America's position in the global digital asset industry, and that the country risks falling behind if Congress fails to act.

The Treasury Secretary also claimed that some Senate Democrats are hesitant to advance the bill due to opposition from Senator Elizabeth Warren and her 'anti-crypto army', but he urged Senate Majority Leader John Thune to put the legislation to a vote.