U.S. Treasury Secretary Scott Bessent has urged senators to keep the CLARITY Act alive. He has warned that failure to advance the landmark cryptocurrency legislation would undermine America’s leadership in the realm of crypto.

Bessent has, of course, reiterated his support for the bill that aspires to establish a comprehensive regulatory framework for the cryptocurrency industry.

“In July, I called on the Senate to advance the Clarity Act,” Bessent said, describing the legislation as an effort to create clear rules for digital assets while strengthening the government’s ability to prevent their misuse.

The Treasury secretary also framed the legislation as a matter of national security and international competitiveness.

“Failing to…