Bessent Urges Senate to Advance CLARITY Act

U.S. Treasury Secretary Scott Bessent is urging senators to advance the CLARITY Act, warning that failure to move forward could weaken America’s leadership in digital assets and undermine national security efforts.

Bessent made the appeal on Sept. 9, just days before the Senate’s Sept. 15 cloture vote on the motion to proceed to H.R. 3633, the Digital Asset Market Clarity Act. He argued that abandoning the legislation would suggest the United States is willing to give up stronger national security tools designed to combat the misuse of digital assets.

The upcoming vote will not determine final passage of the CLARITY Act. Instead, approval would allow the Senate to begin floor debate. Cloture requires 60 votes, meaning Republicans, who hold 53 seats, need support from at least seven Democrats.

The legislation still faces significant hurdles. Ethics provisions and decentralized finance rules remain key areas of disagreement. A Republican draft would prohibit government officials from issuing or sponsoring crypto tokens, while Sen. Thom Tillis has indicated that White House acceptance of the ethics language could be crucial to the bill’s survival.

The CLARITY Act passed the House by a 294-134 vote in July 2025, while the Senate Banking Committee advanced its version 15-9 in May 2026. Even if senators clear the Sept. 15 procedural hurdle, the legislation would still require debate, amendments and eventual alignment with the House.

Sen. Cynthia Lummis backed Bessent’s push, arguing that the crypto market structure bill could strengthen consumer protection, support law enforcement and help keep digital asset businesses in the United States. She also warned that regulatory leadership could shift toward jurisdictions such as Singapore and the UAE if Congress fails to act.

Law enforcement concerns have eased somewhat after the National Sheriffs’ Association moved from opposition to a neutral position. Lummis has also highlighted a proposed $150 million allocation for tracking cryptocurrency scammers.

Crypto industry executives, including Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty, have urged lawmakers to advance legislation. However, uncertainty remains high, making the Sept. 15 CLARITY Act vote a critical procedural test rather than a guarantee of final approval.