Treasury Secretary Besant Urges Immediate Senate Vote on CLARITY Act Amid Democratic Blockade

Besant criticizes Democrats for stalling the CLARITY Act, noting bipartisan Senate negotiations and Republican bill readiness. The act raises compliance standards for digital asset intermediaries while exempting non-custodial developers.

Woofun AI reports that U.S. Treasury Secretary Besant urged the Senate to vote immediately on the CLARITY Act, accusing Democratic lawmakers of blocking progress for political reasons. Following House passage, the Republican version of the bill is ready for a full Senate vote after extensive bipartisan negotiations in the Banking and Agriculture Committees.

The legislation strengthens consumer protection and raises regulatory requirements for digital asset intermediaries to align with traditional financial standards. It also confirms that non-custodial developers are not required to register under the Bank Secrecy Act, a stance now supported by some previously opposing law enforcement agencies.