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U.S. Treasury Secretary Scott Bessent has urged senators to keep the CLARITY Act moving ahead of a key procedural vote on Sept. 15. Bessent warned that failing to advance the crypto market structure bill would send a “troubling signal” about U.S. leadership on digital assets.
Bessent Urges Senators to Continue Negotiations
Bessent made the appeal on Sept. 9 as lawmakers prepared for further action on the bill. He urged senators to support the motion to proceed and continue negotiations rather than halt the legislative process. Bessent wrote:
“Failing to do so would send a troubling signal to our allies and adversaries alike that America is unwilling to lead on the future of digital assets.”
He also argued that the legislation would strengthen U.S. tools for preventing bad actors from exploiting digital-asset technology. That remains the administration’s position rather than an independently established outcome.
Sept. 15 Vote Is Procedural
The Senate schedule says the cloture motion on the motion to proceed to H.R. 3633, the Digital Asset Market Clarity Act, will ripen on Sept. 15. If cloture is invoked, the Senate could move toward a vote on the motion to proceed to consideration of the bill. It would not amount to final passage.
The Senate Banking Committee advanced its version of the market-structure legislation 15-9 on May 14. The legislation seeks to establish a federal framework for digital-asset markets and clarify regulatory responsibilities.
Ethics and Stablecoin Rules Remain Disputed
Negotiations have continued over several parts of the legislation. Senate Democrats have pushed for stronger ethics restrictions involving federal officials and crypto-related financial interests.
Banking groups have separately sought tighter limits on reward programs tied to payment stablecoins. They argue that such programs could draw deposits away from banks and reduce funding available for lending. Those disputes remained unresolved before the Senate’s August recess.
CLARITY Act Faces More Steps Even if Vote Passes
Supporters say the CLARITY Act would provide clearer rules for crypto markets and strengthen consumer safeguards. Critics have raised concerns about investor protection, financial stability, national security and ethics provisions.
The Sept. 15 vote concerns cloture on the motion to proceed. Amendments, further debate and final passage would still remain unresolved if the bill clears that procedural hurdle.
