Bessent Warns Senate Delaying Clarity Act Puts US Digital Asset Leadership at Risk

Treasury Secretary Scott Bessent has called on the Senate to pass the Clarity Act, which he claims will strengthen consumer protections and anti-money laundering requirements while providing regulatory certainty for digital assets.

Bessent accused Senate Democrats of delaying a vote on the bill for political reasons, warning that the U.S. risks losing its leadership in digital assets without clear rules.

The Clarity Act would establish a federal framework for U.S. digital asset markets, effectively legalizing most cryptocurrency activity in the United States.

Bessent defended the legislation, rejecting criticism that it lacks consumer protections or safeguards against illicit finance. He also cited support from the Fraternal Order of Police, which previously opposed the measure.