Treasury Secretary Bessent Urges Senate to Advance CLARITY Act

Scott Bessent urged US senators to advance the CLARITY Act before its Sept. 15 procedural vote as crypto and bank lobbies faced off.

Key Facts

• US Treasury Secretary Scott Bessent urged the Senate to agree to the motion to proceed on the CLARITY Act, six days before its Sept. 15 vote.
• Crypto and banking groups spent the August recess lobbying senators at home, with the industry having spent at least $190 million on the midterms.
• Prediction market traders priced the bill being signed into law this year at 16%.

US Treasury Secretary Scott Bessent urged the Senate to advance the CLARITY Act on Wednesday, six days before a Sept. 15 procedural vote that decides whether the crypto market structure bill reaches the floor.

It is Bessent's latest intervention on a vote that many in the industry treat as its last realistic chance this Congress. The bill needs 60 votes, meaning it also needs Democratic support.

"I strongly urge everyone to remain at the negotiating table, agree to the motion to proceed, and continue the legislative process," Bessent

, adding that failure would signal "that America is unwilling to lead on the future of digital assets and willing to forgo enhanced national security tools to combat their misuse."