Esper Calls Clarity Act 'National Security Bill'

Former US Secretary of Defense Mark Esper has urged the Senate to pass the CLARITY Act, calling it 'a national security bill' due to its impact on digital asset rules.

In an op-ed published in the Financial Times, Esper stated that weak regulations create openings for North Korea and China to undermine American financial power.

He specifically mentioned Beijing's investment in state-directed payment systems, which would allow it to sidestep US supervision and erode the dollar's central role.

The CLARITY Act aims to give the US better tools to cut off crypto-specific loopholes used by North Korean actors, such as the Lazarus Group, to avoid financial controls.

Esper, who also serves on the Coinbase Global Advisory Council, emphasized that this is not just a financial services bill but a national security one that should be passed with urgency.