The bill was passed by the House in the summer of 2025.
Treasury Secretary Scott Bessent is encouraging the U.S. Senate to pass the CLARITY Act. The legislation, passed by the House of Representatives last summer, would create federal regulation for digital assets, which would facilitate cryptocurrency development and investment in the U.S.
Secretary Bessent stated, “The regulatory framework for digital asset markets is unclear. A growing share of crypto development [has] relocated to places with clear rules, such as Abu Dhabi and Singapore. Abroad, firms knew when and how to register, what standards to meet, and how to operate. The benefits of domiciling in the U.S. rarely outweighed the risks.”
As the Lord Leads, Pray with Us…
- For Secretary Bessent as he advocates for cryptocurrency regulation by the Senate.
- For Majority Leader Thune to act with discernment and integrity as he presides over the U.S. Senate.
- For wisdom for President Trump and members of his Cabinet as they seek to encourage economic growth in the nation.
Sources: Reuters Coin Headlines, MSN
