Key facts
- U.S. Treasury Secretary Scott Bessent urged the Senate to pass the CLARITY Act, warning that failure would signal a lack of US leadership on digital assets.
- Bessent framed the CLARITY Act as a national security instrument ahead of a procedural vote on September 15.
- The September 15 vote is a cloture vote on the motion to proceed to H.R. 3633, the Digital Asset Market Clarity Act.
- A 'yes' vote on September 15 would allow for floor debate, while a 'no' vote would kill the bill's current path.
- Ripple Chief Legal Officer Stuart Alderoty called on senators to hear from cryptocurrency holders before the vote.
- Sen. Cynthia Lummis stated that failure to pass the bill could cede digital-asset rulemaking to Singapore and the UAE.
U.S. Treasury Secretary Scott Bessent has urged the Senate to pass the CLARITY Act, framing the legislation as a critical national security tool ahead of a key procedural vote on September 15. Bessent warned that failure to advance the bill would signal a lack of American leadership in digital assets to allies and adversaries.
Ripple Chief Legal Officer Stuart Alderoty echoed the call for action, imploring senators to solicit input from cryptocurrency holders before the vote. The CLARITY Act, H.R. 3633, is facing a cloture vote on September 15, which will determine if it proceeds to floor debate. A 'yes' vote is needed to unlock debate, while a 'no' vote would effectively kill the bill's current legislative path.
Former Pentagon chief Mark Esper has also made a national security argument for the bill, aligning with Treasury's current framing. The legislation passed the House in July 2025 and a version was advanced by the Senate Banking Committee in May 2026, but unresolved issues, including ethics provisions and DeFi language, remain sticking points. Sen. Thom Tillis has indicated that the bill requires White House acceptance of specific ethics language to proceed.
Sen. Cynthia Lummis has amplified Bessent's message, suggesting that failure to pass the bill could lead to digital-asset rulemaking authority being ceded to jurisdictions like Singapore and the UAE. She also noted that the next significant legislative window might not appear until 2030 if the bill fails now. The National Sheriffs’ Association has dropped its opposition, and $150 million is allocated in the bill to track crypto scammers, aiming to gain law enforcement support. However, some remain skeptical, with one former federal prosecutor calling the bill "dead" due to behind-the-scenes friction.