EN ▼
Favorites
My Favorites
View All
Market Cap Price 24h%

Disclaimer: Content does not constitute investment advice. Trading involves risks—please invest with caution!

Besent urges Senate to pass the Clarity Act before September 15 deadline

2026-09-10 20:20:45
Bookmark

Bessent urges Senate to advance CLARITY Act by September 15.

U.S. Treasury Secretary Scott Bessent urged the Senate to speed up the CLARITY Act's legislative process to catch up with key voting points. He warned that abandoning the bill would send a weak signal to competitors in the digital finance space. The Senate is scheduled to hold a closing debate vote on the CLARITY Act on September 15.

Besent posted the appeal via social media, and the post attracted widespread attention within hours. He believes that rejecting the CLARITY Act means abandoning important national security tools. His remarks redefined the bill as a security measure rather than just a simple market rule.

This shift in position was based on Basent's early comments in July. At the time, he emphasized market structure and timing rather than security issues. Today, Treasury and defense officials seem to have unified voices in supporting arguments based on national security.

Voting Situation and Vote Analysis

The September 15 vote will not directly determine the final fate of the CLARITY Act. Instead, this is a closing debate vote on whether to enter the full debate process. A yes vote would allow the bill to enter full house debate.

Republicans currently control 53 seats in the Senate, but 60 votes are needed to end the debate. As a result, at least seven Democratic lawmakers need to vote in favor across party lines. Before entering next week, the prospects for this vote remain uncertain.

[TAG 14] Senate Majority Leader John Thune last week filed a motion for closing debate on the CLARITY Act. Senator Cynthia Lummis then quickly backed Besant's call. She said the bill would protect consumers and support law enforcement.

The remaining focus of controversy

The ethics clause remains the biggest obstacle facing the CLARITY Act. Republicans have added a provision to the bill that prohibits officials from issuing cryptocurrency tokens. Senator Thom Tillis said the provision would require the support of the White House.

Recently, concerns among law enforcement agencies have eased. The National Sheriff's Association withdrew its objections and became neutral. Loomis pointed out that the bill would allocate $150 million to track crypto scammers.

Despite this, some legal observers remain skeptical. A former federal prosecutor recently argued that the bill is effectively "dead." Congressional friction in closed-door meetings did not reflect public optimism.

Industry pressure continues to escalate

Cryptocurrency companies are pushing hard to pass the CLARITY Act.

Ripple's chief legal officer urges senators to listen to the voices of ordinary cryptocurrency holders. Ripple's CEO also called on lawmakers to complete the relevant legislative process.

This week, the National Cryptocurrency Association placed advertisements in major newspapers. The ad states that approximately one-quarter of U.S. adults own cryptocurrencies. This data highlights the huge scale of the benefits associated with the vote.

At the same time, the Ministry of Finance has taken action on relevant stablecoin rules. It launched a consultation period related to the GENIUS Act framework. Officials said the CLARITY Act will improve the broader regulatory structure.

Disclaimer:

All content published on this website, including hyperlinks, related applications, forums, blogs, and other media accounts, originates from third-party platforms and their users. CoinMarketInsight makes no representations or warranties of any kind regarding the website or its content. All blockchain-related data and materials are provided for informational and research purposes only and do not constitute financial, legal, or investment advice. Users and third parties are solely responsible for the content they publish. CoinMarketInsight shall not be liable for any losses arising from the use of this website. You should exercise caution and conduct your own independent research, review, analysis, and verification before making any decisions.

Read Full Article
More News
TOP

TOP