Treasury Secretary Scott Bessent is pressing the Senate to advance the CLARITY Act when lawmakers return from their August recess, renewing pressure on Congress to establish a comprehensive regulatory framework for digital assets. In a post on X, Bessent warned that further delays could weaken U.S. leadership in crypto and limit the government’s ability to prevent digital assets from being misused.
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 August recess, I…
— Treasury Secretary Scott Bessent (@SecScottBessent) September 9, 2026
Senate Faces September Test
Bessent made the appeal, urging senators to “remain at the negotiating table” and agree to a motion to proceed with the bill. The legislation still faces disagreements over crypto holdings, stablecoin rewards, and measures targeting illicit finance. Senate Majority Leader John Thune filed a cloture motion in August, setting the stage for a possible vote on Sept. 15. The bill needs at least 60 votes to advance, making Democratic support crucial.
Regulation and National Security
The CLARITY Act would divide digital-asset oversight between the SEC and CFTC while adding consumer-protection and anti-money-laundering requirements. Bessent has argued that clearer rules could encourage crypto companies and investment to remain in the U.S. Administration officials have also said stronger regulations could support dollar-backed stablecoins and make digital assets harder to use for illicit finance. If lawmakers fail to advance the bill, the U.S. would remain without a broad framework for crypto market oversight.
