Treasury secretary urges Senate to pass CLARITY Act, warns US crypto leadership at risk

Treasury Secretary Scott Bessent has urged the Senate to pass the CLARITY Act ahead of a scheduled vote next week. The push comes as lawmakers continue negotiating provisions around ethics rules, with the crypto industry simultaneously pressuring legislators to move the bill forward. Bessent's intervention signals administration support for clearer regulatory frameworks governing digital assets.

• The Senate is set to vote on the long-pending CLARITY Act within the coming week, a key test of legislative momentum for crypto regulation.
• Bessent's public backing adds executive branch weight to industry efforts to advance the bill as negotiations continue over specific provisions.
• The timing reflects broader tension between crypto stakeholders seeking regulatory clarity and lawmakers working through governance details.