Treasury Secretary Scott Bessent is pressing the Senate to advance the CLARITY Act when lawmakers return from their August recess, renewing pressure on Congress to establish rules for digital assets.
In a post on X, Bessent warned that further delays could weaken U.S. leadership in crypto and limit the government’s ability to prevent digital assets from being misused.
Senate Faces September Test
Bessent made the appeal, urging senators to “remain at the negotiating table” and agree to a motion to proceed with the bill.
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The legislation still faces disagreements over crypto holdings, stablecoin rewards and measures targeting illicit finance. Senate Majority Leader John Thune filed a cloture motion in August, setting the stage for a possible vote on Sept. 15.
The bill needs at least 60 votes to advance, making Democratic support crucial.
Regulation and National Security
The CLARITY Act would divide digital-asset oversight between the SEC and CFTC while adding consumer-protection and anti-money-laundering requirements.
Bessent has argued that clearer rules could encourage crypto companies and investment to remain in the U.S. Administration officials have also said stronger regulations could support dollar-backed stablecoins and make digital assets harder to use for illicit finance.
If lawmakers fail to advance the bill, the U.S. would remain without a broad framework for crypto market oversight.
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