Bessent Urges Senate to Vote Immediately on Clarity Act
Summary
- U.S. Treasury Secretary Scott Bessent urged the Senate to hold an immediate vote on the Clarity Act.
- He said passage of the Clarity Act would strengthen U.S. leadership in the crypto industry and stressed that failure to pass it would cause the country to lose that leadership.
- Bessent said he was disappointed by what he called a political choice and claimed that many Democratic lawmakers had received millions of dollars in backing from the crypto industry.
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U.S. Treasury Secretary Scott Bessent urged the Senate to hold an immediate vote on the Clarity Act, a bill on cryptocurrency market structure.
In a post on X on July 30, Bessent said more than a year had passed since the House approved the Clarity Act. He wrote that it was disappointing Democrats were still making what he called a political choice when the U.S. was on the verge of a victory that could strengthen its leadership in the cryptocurrency industry. He also claimed that many Democratic lawmakers had received millions of dollars in backing from the crypto industry.
Bessent said the U.S. would lead the industry if the Clarity Act passes, but would lose that leadership if it does not. "The situation is simple," he wrote. He then quoted 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."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.