Treasury chief urges Senate vote on CLARITY Act before recess

U.S. Treasury Secretary Scott Bessent is demanding an immediate Senate vote on the CLARITY Act, a major cryptocurrency market structure bill, as lawmakers face a narrowing window to pass the legislation before their August recess. The push comes amid growing opposition from both Democrats and some Republicans, threatening the bill's chances of becoming law this year.

Secretary Bessent called on Senate leaders in a public statement to bring the bill to a vote before lawmakers leave Washington next week. He framed the legislation as a test of American leadership in digital assets, suggesting that delay would cede regulatory ground to other countries. Senate Majority Leader John Thune had previously indicated the chamber might begin the floor process before the recess but acknowledged there may not be sufficient time or votes for passage.

The bill, which passed the House in July 2025 with bipartisan support, aims to divide oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Its progress in the Senate has stalled due to disputes over two key provisions: ethics enforcement and the Blockchain Regulatory Certainty Act...