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Bessent pushes CLARITY Act vote as Senate clock runs short

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Bessent pushes CLARITY Act vote as Senate clock runs short

2026-07-30 18:42 UTCBy AlphaScala Research DeskSource reporting: Crypto newsEditorial standards

Bessent pushes CLARITY Act vote as Senate clock runs short

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Treasury Secretary Bessent pushes Senate to vote on the CLARITY Act before recess, challenging Democrats on crypto policy. Passage odds sit at 30% on Polymarket.

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U.S. Treasury Secretary Scott Bessent urged senators to vote immediately on the CLARITY Act, pressuring lawmakers to test support for the crypto market structure bill before the August recess.

Bessent called on Senate leaders to bring the legislation to a vote before lawmakers leave Washington next week. In a post on X, he accused Democrats of resisting the bill because they fear opposition from Sen. Elizabeth Warren and what he described as her “anti-crypto army.”

The Treasury secretary said Senate Majority Leader John Thune would test that theory in the coming days by forcing lawmakers to state their positions. He framed the bill as a choice between supporting US leadership in digital assets and allowing other countries to advance clearer regulations.

“Will Senate Democrats be on the side of American Exceptionalism, or will they opt to cede American leadership of a global industry for fear of the bespectacled squirrel’s Left flank?” Bessent wrote.

His intervention comes as the Senate faces a narrowing calendar. Thune previously said the chamber might begin the floor process before the recess. He acknowledged there may not be enough time or votes to pass the legislation in the current session. Missing the pre-recess window would reduce the bill’s odds of becoming law in 2026.

Two provisions remain central to negotiations. One restricts elected officials’ crypto interests. The other is the Blockchain Regulatory Certainty Act, or BRCA.

Some Democrats objected to language that gives the Department of Justice sole authority to enforce the ethics provisions. They want state attorneys general and other prosecutors to have enforcement powers rather than leaving oversight entirely to the federal government.

Republican Sen. Thom Tillis is expected to send a bipartisan ethics proposal to the White House. Approval from the Trump administration could remove one obstacle and help Senate leaders attract the Democratic votes needed to advance the bill.

Republicans hold 53 Senate seats. They would likely need at least seven Democrats to clear the chamber’s 60-vote threshold. The House passed its version of the CLARITY Act in July 2025 with a 294–134 vote that included 78 Democrats.

Bessent rejected claims that the BRCA language would weaken authorities’ ability to pursue money laundering and financial crimes. The provision seeks to clarify when developers of non-custodial blockchain software must register as money transmitters.

“The Blockchain Regulatory Certainty Act – which Washington lobbyists have spun up as a boogeyman for certain groups of prosecutors and law enforcement – does nothing other than codify longstanding Treasury Department policy that’s remained consistent across Administrations,” Bessent wrote.

He argued that developers who do not take custody of customer assets have not typically faced registration requirements under the Bank Secrecy Act. Prosecutors remain concerned that broadly written exemptions could limit their ability to bring cases against software providers linked to illicit transactions.

Law enforcement support increased after revisions to the bill. The National Fraternal Order of Police reversed its earlier opposition, saying its concerns had been addressed while investigators retained the tools needed to pursue crypto crime. The Major Cities Chiefs Association also backed the revised legislation.

Polymarket traders put the probability of passage at about 30% on July 30, with roughly $3 million wagered. The odds had reached 82% in February before falling as negotiations stalled and the Senate calendar tightened. Polymarket data also showed traders narrowly favoring an eventual Senate vote total above 50.

Bitcoin traded near $64,767 after moving between $63,252 and $65,040 during the day. The muted price action suggests traders are not yet treating Bessent’s demand as a sign that passage is secured.

The legislation would split oversight between the SEC and CFTC and set federal requirements for digital-asset intermediaries. Failure to reach an agreement would leave companies operating under the existing mix of agency actions, court decisions and state rules.

The next test is whether the White House accepts the negotiated ethics package and whether Thune schedules a procedural vote before the recess. Without enough Democratic support, Bessent’s demand may force senators to record their positions without moving the bill closer to a final vote.