Treasury Secretary Urges Senate to Advance CLARITY Act Ahead of September Procedural Vote

U.S. Treasury Secretary Scott Bessent posted on X urging senators to remain in negotiations and back a motion to proceed on the Digital Asset Market Clarity Act (CLARITY Act). He warned that failing to move the bill forward would send a troubling signal about U.S. leadership in digital assets.

Procedural vote scheduled for September 15

The Senate will hold a cloture vote on September 15 that requires 60 votes to advance the motion to proceed. The vote does not approve the legislation itself but determines whether the Senate can consider it on the floor. With 53 Republican seats, the measure will need at least seven Democratic or independent votes if all Republicans support it.

Legislative background

The CLARITY Act aims to create a federal market structure for digital assets, defining which assets fall under the Securities and Exchange Commission and which under the Commodity Futures Trading Commission. The House passed its version in July 2025, and the Senate Banking Committee approved its portion in May 2026 by a 15‑9 vote.

Key negotiation points

• Ethics restrictions: Democrats seek stronger conflict‑of‑interest rules for officials with digital‑asset interests.
• Developer protections: Crypto groups want safeguards so software developers are not treated as money transmitters solely for writing or publishing code.
• Stablecoin rewards: Dispute over whether platforms may offer activity‑based rewards tied to stablecoins, with banks pushing for tighter limits.
• Illicit‑finance provisions: Law‑enforcement groups advocate for robust anti‑money‑laundering requirements.

Shifts in opposition

On September 3, the National Sheriffs’ Association changed its stance from opposition to neutral, removing a law‑enforcement organization from the list of active opponents less than two weeks before the procedural vote.

Market outlook

Galaxy Digital lowered its estimate for the CLARITY Act becoming law in 2026 to 10%, down from 75% in May, citing the short Senate calendar and unresolved negotiation points.

Next steps

If the cloture vote succeeds, the Senate will move to consider the bill, work through amendments, and eventually hold a final passage vote. Any differences with the House version would still need reconciliation before the measure could reach the president.