U.S. Treasury Secretary Scott Bessent is ramping up pressure on lawmakers to pass the CLARITY Act, saying the bill is critical if America wants to become the global home for digital assets.
Speaking at the White House, Bessent urged both the House and Senate to move quickly on the legislation, arguing that the biggest priority right now is bringing crypto activity into the United States instead of allowing it to remain largely offshore.
🚨 NOW: Treasury Sec. Scott Bessent CONFIRMS there will be NO Central Bank Digital Currency under President Trump
GREAT!
“There will be NO Central Bank Digital Currency. That would be the first step toward tracking. We took that off the table. We passed stable coin… pic.twitter.com/nejAIdEMOi
— Eric Daugherty (@EricLDaugh) May 28, 2026
“The most important thing we can do is to make digital assets come into the United States. Make the U.S. the home,” Bessent said while encouraging lawmakers to “get CLARITY done.”
He also criticized the lack of oversight in foreign crypto markets, calling many offshore platforms the “wild, wild west.” According to Bessent, much of the chaos, scams, and controversy surrounding digital assets come from unclear rules outside the U.S.
CLARITY Act Faces Tight Timeline
The push comes as the CLARITY Act continues moving through Congress. Earlier this month, the Senate Banking Committee approved part of the legislation after the Agriculture Committee had already advanced its own version back in January.
The bill still faces several major hurdles before becoming law, including a full Senate vote, reconciliation between House and Senate versions, and final approval from President Donald Trump.
Prediction market platform Polymarket currently places the odds of the CLARITY Act passing in 2026 at around 57%, though those odds recently dropped sharply after delays tied to the Senate recess.
The bill now faces growing pressure to secure a Senate floor vote before the tight June 2026 window closes.
No CBDC Under Trump Administration
Bessent also made it clear that the Trump administration has no plans to introduce a U.S. central bank digital currency (CBDC).
“There will be no Central Bank Digital Currency,” he said, calling CBDCs “the first step toward tracking.”
Cynthia Lummis Backs the Bill
Senator Cynthia Lummis also renewed support for the CLARITY Act, describing it as both a consumer protection bill and a safeguard for American crypto developers.
If the Clarity Act doesn’t pass this Congress, American software developers will be targeted again for prosecution in the near future just for publishing code. These are the stakes.
— Senator Cynthia Lummis (@SenLummis) May 27, 2026
She warned that without clear regulations, crypto exchange users could face long legal battles to recover assets during bankruptcies, while software developers could once again face legal action simply for publishing code.
Without the Clarity Act, if a digital asset exchange goes bankrupt, customers have no guaranteed right to their own assets. They join a creditor line w/ other Wall Street firms and expensive lawyers and hope for the best. This is a consumer protection failure Congress must fix.
— Senator Cynthia Lummis (@SenLummis) May 28, 2026
Lummis also praised Trump’s pro-crypto stance and called on Congress to send the bipartisan bill to his desk as soon as possible.
