U.S. Treasury Secretary pushes for CLARITY Act passage as Senate returns from recess

U.S. Treasury Secretary Scott Bessent has urged senators to advance the CLARITY Act as lawmakers prepare to return from their August recess for a procedural vote that will test whether the crypto market structure bill has enough support to move forward. Summary Treasury Secretary Scott Bessent urged senators to advance the CLARITY Act and remain at the negotiating table. The Senate is set to hold a Sept. 15 procedural vote that requires 60 votes to move the legislation forward. The National Sheriffs’ Association dropped its opposition to the bill on Sept. 3 and changed its position to neutral. Galaxy has cut its estimated chance of the CLARITY Act passing in 2026 to 10%, down from 75% in May. Bessent, in a Wednesday post on X, called on lawmakers to stay in negotiations and support the motion to proceed, arguing that failure to move the legislation forward would send a “troubling signal” about U.S. leadership in digital assets. In July, I called on the Senate to advance the Clarity Act — a bill to establish a comprehensive regulatory framework for digital assets and upgrade our ability to prevent bad actors from exploiting these critical technologies.When the Senate returns from Au...