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Crypto

Clarity Act this time for real? Scott Bessent presses Senate, warns U.S. lead at risk if it fails

The U.S. Treasury is publicly pressuring the Senate to act on the Clarity Act. Treasury Secretary Scott Bessent urged senators to advance the bill and warned that failure could weaken U.S. leadership in digital assets. The Senate is set to hold a procedural vote on Sept. 15, which is expected to require 60 votes. Republicans hold 53 seats, meaning at least 7 Democrats would need to join if all Republicans support it.

Finance

U.S. Treasury to buy back up to $6 billion in Treasuries as yields jump on $40 trillion debt

The U.S. Treasury will buy back up to $6 billion of outstanding nominal Treasuries with 10 to 20 years remaining maturity to boost liquidity in the long-term bond market. The amount is triple the usual per-operation cap, but Treasury yields continued to rise after the announcement. Investors pointed to federal debt above $40 trillion, increased supply and inflation worries, while some criticised the move as risking expectations of larger intervention.