Treasury Secretary Scott Bessent on Thursday urged the Senate to hold an immediate vote on the CLARITY Act, arguing the legislation is essential to keeping the U.S. at the forefront of the digital asset industry.
In a post on X, Bessent said the House passed the bill more than a year ago and noted that Senate Banking and Agriculture committees have since advanced their respective portions, leaving what he described as a “floor-ready” bill awaiting a vote.
Bessent criticized Senate Democrats for delaying the legislation, saying political considerations were standing in the way of regulatory clarity for the crypto industry.
“America will lead or America won’t. It’s not more complicated than that,” he wrote.
Fundstrat Capital CIO Tom Lee echoed Bessent’s call.
“The CLARITY Act is critically needed to ensure the U.S. leads this digital financial future,” Lee wrote. “This needs to be passed and enacted.”
Lee also encouraged supporters to contact their senators and urge them to back the legislation, underscoring growing pressure from crypto industry leaders for Congress to advance a comprehensive digital asset regulatory framework.
Addressing concerns over consumer protections and anti-money laundering measures, Bessent argued the legislation strengthens oversight by imposing regulatory and compliance requirements on digital asset intermediaries like those applied to traditional financial institutions.
He also defended the Blockchain Regulatory Certainty Act, saying it merely codifies longstanding Treasury policy that non-custodial software developers and blockchain builders are not subject to registration requirements under the Bank Secrecy Act.
Quoting Satoshi Nakamoto, Bessent concluded: “If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”
Image: Shutterstock
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