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UNI U.S. Treasury Secretary Bessent urges lawmakers to pass the Digital Asset Market Clarity Act
U.S. Treasury Secretary Scott Bessent strongly calls on lawmakers to pass the Digital Asset Market Clarity bill as soon as the Senate returns from its August recess next week.
Besent wrote in a post on social media platform X on Wednesday: "I strongly urge all parties to remain at the negotiating table, agree to move forward with the motion, and continue to move forward with the legislative process." He warned that failure to pass the bill would send a "disturbing signal" to the outside world about U.S. leadership in the digital asset industry.
According to the Senate's legislative schedule, the Senate is scheduled to end its August recess next Monday and formally resume work. The CLARITY Act aims to establish the first comprehensive regulatory framework for digital assets in the United States.
The statement came a week after the National Sheriffs 'Association withdrew its opposition to the cryptocurrency market structure bill on September 3 and adopted a "neutral" stance.
At the same time, Galaxy's probability forecast for the passage of the CLARITY Act in 2026 has been lowered many times. The probability is currently only 10%, which is much lower than the 75% set on May 22.
Although the CLARITY Act was passed by the Senate Banking Committee in May this year, most Democratic lawmakers and the banking industry resisted it. They argued that the bill could allow cryptocurrency companies to provide stablecoin revenue services without having to bear the same obligations as banks.
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