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Bessent urges Senate to pass Clarity Act before August recess

The proposed Clarity Act has bipartisan drafting, and Bessent says it would set crypto regulation in the US.

Reported · Written up by our desk · Regulation

U.S. Treasury Secretary Scott Bessent urged lawmakers to vote on the crypto Clarity Act, calling for immediate Senate action as Congress weighs timing ahead of the August recess, according to Bitcoin Magazine.

Bessent criticized Democrats for not advancing the bill, including a focus on Senator Elizabeth Warren, and argued that the legislation should move forward rather than be delayed.

The article says lawmakers are considering a new draft version of the Clarity Act, which has been drafted bipartisanly and includes amendments addressing ethics, while some Democrats remain dissatisfied with its wording.

Bitcoin Magazine adds that US banking representatives, regulators, and crypto industry figures have been meeting at the White House to work on the bill since last year, and it would, if approved, establish crypto regulation in the US economy.

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