Treasury Secretary Slams Senate Dems Over CLARITY Act Blockage

Treasury Secretary Scott Bessent has publicly criticized Senate Democrats for blocking a floor vote on the CLARITY Act, a bill aimed at clarifying digital asset market structure. The House passed the bill in 2025 with a 294-134 vote, and it has since been pending in the Senate. Bessent argued that Democrats are afraid to advance the bill due to pressure from Senator Elizabeth Warren and her 'anti-crypto army.'

In a Twitter post, Bessent invoked Satoshi Nakamoto's famous phrase, stating that there is no time left to convince those who do not believe or understand.

The CLARITY Act has undergone thousands of hours of bipartisan negotiations since its introduction. Despite this progress, Senate Majority Leader John Thune predicts the bill will not clear the chamber before the August recess due to unresolved ethics provisions.

JPMorgan warned that failure to pass the Clarity Act would hurt crypto markets, with prediction markets placing the probability of Senate passage at 26.5% as of July 31.