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Bessent: Democrats 'disappointing' on CLARITY Act as odds hit 27%
Bessent calls out Senate Dems for stalling CLARITY Act, calling opposition 'disappointing.' With odds at 27%, August recess near, bill's path narrows.
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U.S. Treasury Secretary Scott Bessent criticized Senate Democrats for blocking the CLARITY Act, calling their opposition "disappointing" in a statement Thursday.
"It's disappointing – but not surprising – that Senate Democrats are choosing politics on the cusp of a major victory for American leadership. American Exceptionalism was once a bipartisan goal; if Clarity fails, I have serious doubts."
The Senate Democrats who withheld support include pro-crypto figures like Angela Alsobrooks and Ruben Gallego. They cited ethics and developer protections under the Blockchain Regulatory Certainty Act (BRCA). Bessent dismissed the BRCA argument, saying it merely codifies Treasury Department policy that non-custodial developers are not subject to Bank Secrecy Act registration.