US Treasury Secretary Urges Senate to Immediately Vote on Clarity Act, Citing Satoshi Nakamoto
2026-07-30 19:36
Odaily Planet Daily News: US Treasury Secretary Scott Bessent on Thursday urged the Senate to pass the Clarity Act, stating that the House passed the bill over a year ago, and that staff from the Senate Banking and Agriculture Committees have since held thousands of hours of negotiations on bipartisan revisions.
Bessent stated that the bill would strengthen consumer protections and anti-money laundering requirements, while providing regulatory certainty for digital assets. He also noted that the Blockchain Regulatory Certainty Act clause within the Clarity Act would protect decentralized software developers, clarifying that they are not subject to registration requirements under the Bank Secrecy Act.
Bessent criticized Senate Democrats for delaying the vote for political reasons and stated that the vote would determine whether the United States maintains its global leadership position in digital assets. He concluded his post by quoting Bitcoin creator Satoshi Nakamoto: "If you don't believe me or don't get it, I don't have time to try to convince you, sorry."
The Clarity Act aims to establish a federal framework for the U.S. digital asset market and divides regulatory responsibilities for digital assets between the SEC and the CFTC, with most crypto assets typically falling under CFTC jurisdiction. Senate Majority Leader John Thune recently indicated that the bill is not expected to pass the Senate before the August recess.
Bessent stated that the bill would strengthen consumer protections and anti-money laundering requirements, while providing regulatory certainty for digital assets. He also noted that the Blockchain Regulatory Certainty Act clause within the Clarity Act would protect decentralized software developers, clarifying that they are not subject to registration requirements under the Bank Secrecy Act.
Bessent criticized Senate Democrats for delaying the vote for political reasons and stated that the vote would determine whether the United States maintains its global leadership position in digital assets. He concluded his post by quoting Bitcoin creator Satoshi Nakamoto: "If you don't believe me or don't get it, I don't have time to try to convince you, sorry."
The Clarity Act aims to establish a federal framework for the U.S. digital asset market and divides regulatory responsibilities for digital assets between the SEC and the CFTC, with most crypto assets typically falling under CFTC jurisdiction. Senate Majority Leader John Thune recently indicated that the bill is not expected to pass the Senate before the August recess.
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