Senate Banking Chairman Scott Vows to Push for Final Passage of CLARITY Act

Tim Scott, chairman of the U.S. Senate Banking Committee, said he would push for final passage of the CLARITY Act.

Scott wrote in a post on X on July 23 that the CLARITY Act would protect the hard-earned money of ordinary Americans and give entrepreneurs a fair chance to build businesses and create jobs in the U.S., according to crypto media outlet U.Today.

The bill would also bolster national security by making it harder for criminals and hostile foreign actors to exploit the U.S. financial system, he added.