Former Defense Secretary Mark Esper urged the Senate to pass the CLARITY Act, citing China and North Korea threats. Senate vote postponed to Sept. 15 amid ethical concerns over Trump's crypto earnings.
Alpha Score of 37 reflects weak overall profile with poor momentum, weak value, poor quality, strong sentiment.
Former Defense Secretary Mark Esper urged the Senate to pass the CLARITY Act in a Financial Times opinion piece published Saturday. He argued that weak digital asset rules let China and North Korea undermine U.S. financial power. The Senate will not vote on the bill before the August recess. Majority Leader John Thune initiated cloture procedures Saturday, setting Sept. 15 as the prospective voting date.
Esper wrote that China has built government-controlled financial infrastructure to bypass U.S. oversight and reduce the dollar's global influence. He called China "the greatest strategic threat of our lifetime." Esper also pointed to North Korea's Lazarus Group, which uses cryptocurrency to evade sanctions. The CLARITY Act would expand the Treasury Department's special-measures authority under Section 311 of the USA Patriot Act, a tool Esper described as "one of our sharpest weapons against rogue actors."
The bill faces hurdles beyond Senate timing. Trump's reported $1.4 billion in cryptocurrency earnings has created ethical concerns among Democrats. One insider called it the decisive factor undermining negotiations. Other unresolved issues include law enforcement provisions and agricultural considerations. Questions about stablecoin interest payments also remain.
Senators Angela Alsobrook and Cynthia Lummis both pledged to advance the legislation. Lummis said she would continue working. Alsobrook said a bipartisan consensus remains the goal. A Senate aide told CoinDesk that securing Democratic support requires a "legitimate" compromise agreement. Senator Thom Tillis told Politico that "the odds drop precipitously" given the proximity of elections and the extended recess period.
Two sources told CoinDesk the bill still has a realistic chance of passing. They emphasized that the August timeline was an industry aspiration, not a congressional commitment. The coming weeks of deliberation will be critical, but the cloture vote is set for Sept. 15.
Esper serves on the advisory council of Coinbase. The company's COIN stock page shows an AlphaScala Score of 32, reflecting weak fundamentals.
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