Bessent Slams Senate Dems Over Stalled Clarity Act

Treasury Secretary Scott Bessent has publicly criticized Senate Democrats for blocking a vote on the CLARITY Act, a bill aimed at clarifying digital asset market structure. Bessent accused them of political cowardice in the face of pressure from Senator Elizabeth Warren and her self-proclaimed 'anti-crypto army.'

The CLARITY Act has been stalled in the Senate for over a year after passing the House with a 294-134 vote in 2025. Despite thousands of hours of bipartisan negotiations, Senate Majority Leader John Thune stated that he does not expect the bill to clear the chamber before the August recess due to unresolved ethics provisions.

Treasury and the SEC are taking a coordinated approach to push for passage, with Bessent invoking Satoshi Nakamoto's famous phrase 'if someone does not believe or does not understand, there is simply no time left to try to convince them' in a recent post on X. The bill's supporters argue that it would bring digital asset intermediaries closer to traditional financial institution standards, while critics claim it lacks consumer protections.