U.S. Treasury Secretary Scott Bessent warns Senate delays risk ceding digital asset leadership to global competitors.
U.S. Treasury Secretary Scott Bessent urged the Senate to vote on the Clarity Act, a bill aimed at providing regulatory certainty for digital assets. Bessent accused Senate Democrats of political delays, warning the U.S. could lose its leadership in the sector without clear rules. The House passed the bill over a year ago, and bipartisan revisions have since been negotiated by committee staff.
The Clarity Act includes expanded consumer protections and anti-money laundering requirements for digital asset intermediaries. Bessent dismissed criticism that the legislation lacks safeguards, citing Titles II and III as key provisions to strengthen compliance. He framed the bill as a bipartisan opportunity to reinforce American leadership in digital assets.
Bessent concluded his appeal by quoting Bitcoin creator Satoshi Nakamoto, emphasizing the urgency of regulatory clarity. The Treasury has not indicated a specific market reaction to the plea, but the bill’s fate remains a focal point for crypto industry stakeholders.