Bessent pushes Senate to advance crypto Clarity Act

Scott Bessent, the U.S. Treasury secretary, called on lawmakers to advance the crypto Clarity Act once their recess ends next week.

In a post on X Wednesday, Bessent stated the legislation would prevent "bad actors" from misusing important digital asset technology.

A vital vote on the long-awaited bill for crypto market structure had been expected in August before a five-week break. That vote was postponed, and the Senate is scheduled to take it up next week.

JUST IN: US Treasury Secretary Scott Bessent says he 'strongly urges' the Senate to pass the Clarity Act.

"Failing to do so would send a troubling signal to our allies and adversaries alike that America is unwilling to lead on the future of digital assets". pic.twitter.com/dA4aIpzwYb

— Bitcoin Magazine (@BitcoinMagazine) September 9, 2026

“When the Senate returns from August recess, I strongly urge everyone to remain at the negotiating table, agree to the motion to proceed, and continue the legislative process,” he said.

“Failing to do so would send a troubling signal to our allies and adversaries alike that America is unwilling to lead on the future of digital assets and willing to forgo enhanced national security tools to combat their misuse.”

In July, Bessent had argued that passing the Clarity Act was necessary if lawmakers wanted to stand "on the side of American Exceptionalism." He also quoted Satoshi Nakamoto in another social media post at that time.

“America will lead or America won’t,” he wrote then. “It’s not more complicated than that. I believe Satoshi once said it best: ‘If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.'”

The Clarity Act, first approved by the House last year, outlines a framework that formally splits oversight among regulators by distinguishing whether digital assets are securities, commodities or stablecoins.

The digital asset sector has long sought such rules to be put in place.

This year, however, the draft legislation has mostly been stuck, mainly due to a clash between the banking lobby and crypto companies over paying customers stablecoin yield.

A revised draft addressing ethics issues began circulating in July. It bans government officials from promoting crypto or profiting from it — a practice that Democrats have criticized President Trump's family for.

Even with those changes, a group of Democrats argued the bill was insufficient and called for amendments.

President Donald Trump has pressed lawmakers to finalize the legislation. In August, he stated that for the U.S. to stay the "undisputed leader in Bitcoin and crypto," Congress needed to pass the "very, very powerful legislation."