Written by Zoltan Vardaistaff writerReviewed by Robert Lakinstaff editor

Written by Zoltan Vardaistaff writer

Reviewed by Robert Lakinstaff editor

Treasury Secretary Bessent urges CLARITY Act passage after Senate returns

Latest NewsPublishedSep 10, 2026

Secretary Scott Bessent warned that failing to pass the CLARITY Act would send a “troubling signal” about America’s leadership in the digital asset industry.

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, as reported by 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

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Law
• Bitcoin Regulation
• United States
• Politics
• Senate
• Policies
• Regulation

More on the subject

German finance ministry proposes 25% crypto tax starting 2028: Report

22 hours ago

Zoltan Vardai

Italy’s central bank orders sanctions screening for crypto transfers

23 hours ago

Zoltan Vardai

What could happen if the CLARITY Act fails to pass in 2026

23 hours ago

Turner Wright

German finance ministry proposes 25% crypto tax starting 2028: Report

22 hours ago

Zoltan Vardai

Italy’s central bank orders sanctions screening for crypto transfers

23 hours ago

Zoltan Vardai

What could happen if the CLARITY Act fails to pass in 2026

23 hours ago

Turner Wright