US Treasury Secretary Scott Bessent said the CLARITY Act is vital to setting clear rules for crypto, tokenized assets and decentralized exchanges, and that US leadership is at stake.
US Treasury Secretary Scott Bessent has asked Congress to pass the Digital Asset Market Clarity (CLARITY) Act without delay, warning that Senate floor time is limited and now is the moment to act.
In a Wall Street Journal op-ed on Wednesday, Bessent said the legislation is critical for providing clear regulatory rules for digital assets, including cryptocurrencies, tokenized assets and decentralized exchanges. He warned that with the global crypto market rising to $3 trillion and nearly one in six Americans holding digital assets, the stakes for US leadership in financial innovation are higher than ever.
“To preserve it and rise to the challenge before us, Congress must pass the Clarity Act. Senate floor time is scarce, and now is the time to act,” he wrote.
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