Bessent Urges Senate to Advance Crypto Bill Amid September Vote

Treasury Secretary Scott Bessent is urging the Senate to advance crypto market-structure legislation, also known as the CLARITY Act, on September 15. This bill aims to create a clearer regulatory framework for digital assets and strengthen tools against illicit finance.

Bessent has been pushing lawmakers to stay engaged with the legislation since July, but his renewed appeal comes after the Senate returned from recess in August. The Treasury Secretary believes that inaction would send an unwelcome message about America's willingness to lead on emerging financial technology.

Proponents argue that the bill is essential for giving digital assets a defined place within U.S. financial regulation, providing companies with predictability and keeping them anchored in the United States rather than relocating to friendlier jurisdictions overseas.