Treasury Secretary Urges CLARITY Act Passage, Saying The US Should Be Home For Crypto

On Thursday, Treasury Secretary Scott Bessent urged Congress to pass the CLARITY Act, a bill that would provide the crypto industry with a regulatory framework and the long-awaited clarity it needs regarding the classification of digital assets. 

The most important thing we can do is to make digital assets come into the United States. Make the US the home. I would encourage the House and the Senate to get Clarity done.

Bessent’s comments also targeted what he called the “wild, wild west” environment for digital assets outside the US. He argued that much of the confusion and controversy surrounding crypto stems from a lack of clear rules when the activity is happening offshore. 

“When you look at digital assets, all the nonsense that happens, all the things you read about, that’s because it’s the wild, wild west offshore. So we got to bring it onshore,” he said, before urging lawmakers again to “get CLARITY Act done.”

With those committee steps completed, the CLARITY Act must clear a full Senate vote, complete the legislative reconciliation steps required to finalize the bill, and secure a final agreement between the House and the Senate before the measure can move to the President’s desk.

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