US Treasury Secretary Scott Bessent Urges Senate to Pass CLARITY Act

US Treasury Secretary Scott Bessent has called on the Senate to advance the CLARITY Act following the August recess. Bessent emphasized that the legislation is essential to prevent the misuse of digital asset technology by bad actors and warned that failure to pass the bill would signal a lack of US leadership in the digital asset space. The bill, which previously passed the House, aims to establish a regulatory framework defining the status of digital assets as securities, commodities, or stablecoins.