Bessent Warns Senate: Pass CLARITY Act or Fall Behind in Global Crypto Regulation
US Treasury Secretary Scott Bessent has urged the Senate to vote on the CLARITY Act before lawmakers leave for their August recess. He warned that further delays could weaken America's position in the global digital asset industry.
In a post on X, Bessent called on the Senate to pass the bill 'NOW,' arguing that the US cannot afford to delay crypto regulation any longer.
He claimed some Senate Democrats are hesitant to advance the bill because they fear opposition from Senator Elizabeth Warren and what he described as her 'anti-crypto army.'
The Major Cities Chiefs Association (MCCA), one of the country's leading law enforcement organizations, has endorsed the latest version of the CLARITY Act after revisions addressed several enforcement concerns.