Treasury Secretary Bessent urges CLARITY Act passage after Senate returns

cointelegraph2026-09-10 tarihinde yayınlandı2026-09-10 tarihinde güncellendi

Özet

U.S. Treasury Secretary Scott Bessent urged lawmakers to pass the Digital Asset Market Clarity (CLARITY) Act upon the Senate's return from recess. He warned that failure to pass the bill would send a troubling signal about U.S. leadership in digital assets. The act aims to create the first comprehensive U.S. regulatory framework for digital assets. This push follows the National Sheriffs' Association dropping its opposition to the bill. However, analyst Galaxy has significantly reduced the odds of the act's passage by 2026 from 75% to 10%. The bill cleared the Senate Banking Committee in May but faces Democratic and banking industry opposition over stablecoin yield provisions.

US Treasury Secretary Scott Bessent urged lawmakers to pass the Digital Asset Market Clarity (CLARITY) Act when the Senate returns from its August recess next week.

“I strongly urge everyone to remain at the negotiating table, agree to the motion to proceed, and continue the legislative process,” wrote Bessent in a Wednesday X post, warning that failing to pass the bill would send a “troubling signal” about America’s leadership in the digital asset industry.

The Senate is scheduled to return from its August recess next Monday, according to its legislative schedule. The CLARITY Act seeks to establish the first comprehensive regulatory framework for digital assets in the US.

The remarks come a week after the National Sheriffs’ Association dropped its opposition to the crypto market structure bill on Sept. 3, changing its position on the bill to “neutral.”

Galaxy has reduced its odds on the CLARITY Act’s passing in 2026 several times over recent months. Now at 10%, that’s down from 75% set on May 22.

While the CLARITY Act cleared the Senate Banking Committee in May, most Democrats and the banking industry pushed back, arguing that it would allow crypto firms to offer yields on stablecoins without facing the same requirements as banks.

Related: Unicoin sues Uniswap Labs, seeks to cancel UNI registration

İlgili Sorular

QWhat is the CLARITY Act that Treasury Secretary Bessent is urging passage for?

AThe CLARITY Act, or the Digital Asset Market Clarity Act, seeks to establish the first comprehensive regulatory framework for digital assets in the United States.

QWhat did Treasury Secretary Scott Bessent say would be the consequence of failing to pass the CLARITY Act?

ATreasury Secretary Scott Bessent warned that failing to pass the bill would send a 'troubling signal' about America's leadership in the digital asset industry.

QWhat recent change in position did the National Sheriffs' Association have regarding the CLARITY Act?

AThe National Sheriffs' Association dropped its opposition to the crypto market structure bill on September 3, changing its position from opposition to 'neutral.'

QAccording to the article, how have Galaxy's odds on the CLARITY Act passing in 2026 changed recently?

AGalaxy has reduced its odds on the CLARITY Act passing in 2026 several times, now placing it at 10%, which is down significantly from 75% on May 22.

QWhat is a key criticism from Democrats and the banking industry against the CLARITY Act?

AMost Democrats and the banking industry have pushed back against the CLARITY Act, arguing that it would allow crypto firms to offer yields on stablecoins without facing the same regulatory requirements as banks.

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