The CLARITY Act, which now appears increasingly likely to fail, has received a fresh push from one of its key supporters. U.S. Treasury Secretary Scott Bessent is urging lawmakers to move forward with the bill as a key Senate vote approaches.
The push comes just days before the September 15 cloture vote.
In a recent tweet, U.S. Treasury Secretary Scott Bessent called on senators to stay at the negotiating table and reach an agreement when lawmakers return from the August recess.
Bessent said, “In July, I called on the Senate to advance the Clarity Act,” arguing that the bill would create a clear regulatory framework for digital assets while giving the government better tools to stop their misuse.
He warned that failing to move the bill forward would send “a troubling signal to our allies and adversaries alike” that the U.S. is unwilling to lead in digital assets.
The biggest hurdle remains negotiations over ethics rules and restrictions involving government officials and digital assets.
Democratic lawmakers have pushed for stronger conflict-of-interest rules and financial disclosure requirements before backing the bill. That has sharply reduced expectations for passage.
Therefore, Galaxy has reportedly cut its estimate for the bill becoming law in 2026 to 9%, down from 75% earlier this year.
Despite doubts over a U.S. crypto bill passing Congress in 2026, Coinbase CEO Brian Armstrong says clearer rules are coming “with or without Senate approval.”
Speaking to CNBC, Armstrong said Congress is “very close to a solution” and that the SEC and CFTC are also prepared to move forward with their own rules if lawmakers fail to act.
He added that clearer regulations could help unlock more institutional investment, making the development bullish for Bitcoin.
A successful September 15 vote would not pass the CLARITY Act. It would only allow the Senate to formally take up the bill, followed by debate, amendments, and another vote.
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