Treasury Secretary Bessent calls for passage of the CLARITY Act
- Scott Bessent urged lawmakers to pass the CLARITY Act when the Senate reconvenes next week.
- Bessent warned that failing to pass the bill would send a “troubling signal” about U.S. leadership in the digital asset industry.
- The Senate is set to return from its August recess on Monday, with the CLARITY Act aiming to create a comprehensive regulatory framework for digital assets.
- The National Sheriffs’ Association recently changed its stance on the bill from opposition to neutral.
- Galaxy has reduced odds of the CLARITY Act passing in 2026 from 75% in May to just 10% now.
The CLARITY Act, which cleared the Senate Banking Committee in May, faces pushback from most Democrats and banking sectors over concerns regarding stablecoin yield offerings.
With current odds at only ten percent, significant challenges remain for the passage of the CLARITY Act as it heads back to Congress next week. (Source)
