U.S. Treasury Secretary Scott Bessent voiced support for the Clarity Act, a bipartisan bill designed to establish cryptocurrency regulation in the United States. He urged the Senate to pass the legislation before the August recess and criticized Democrats, particularly Senator Elizabeth Warren, for blocking the bill. Bessent quoted Satoshi Nakamoto in a post on X to reinforce his point. The bill has the backing of major nonprofits and financial institutions but faces criticism over the Trump family’s crypto activities, including the TRUMP meme coin and the World Liberty Financial project. If passed, it would permanently establish cryptocurrency regulation in the world’s largest economy.
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