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Crypto
Bessent says Clarity Act cannot be delayed, urges immediate Senate vote
U.S. Treasury Secretary Scott Bessent urged the Senate to hold an immediate vote on the Clarity Act, a digital asset market structure bill. He said Democrats are delaying for political reasons and warned the United States could lose leadership without clear rules. Bessent defended the bill’s consumer protection and anti-illicit finance provisions and backed a clause codifying Treasury policy on decentralized developers. Negotiations remain stalled over ethics provisions.
Crypto
U.S. police leadership backs Clarity Act as pressure mounts on Senate
A group representing police leadership in major U.S. cities has formally backed the Clarity Act, a bill to regulate the cryptocurrency market, increasing pressure to pass it before Congress recesses in August. The Major Cities Chiefs Association said revisions strengthened provisions to combat financial crime and would improve law enforcement capacity to investigate digital asset-related offenses. Support has grown among law enforcement groups, though some Democrats say the current text is insufficient.
Crypto
U.S. Senate Republicans move CLARITY Act to floor, with 60 votes biggest hurdle
U.S. Senate Republicans are moving quickly to bring the cryptocurrency market structure bill known as the CLARITY Act to the Senate floor as early as this week, but securing the 60 votes needed for final passage remains the biggest obstacle. The next step hinges on whether Majority Leader John Thune will initiate cloture. Democrats have raised concerns about ethics rules and DeFi, while Republican unity is not assured.
