China, North Korea and Crypto: Why a Former Pentagon Chief Is Backing the Clarity Act
TLDR
- Former Defense Secretary Mark Esper called the CLARITY Act a national security bill, not just a financial services bill
- Esper warned China is building payment systems to bypass US dollar dominance
- The Senate will not vote on the bill before the August recess
- Senate Majority Leader John Thune filed cloture for a September 15 Senate floor vote
- President Trump’s crypto business ties and unresolved ethics concerns remain the biggest obstacles
Former US Defense Secretary Mark Esper publicly backed the CLARITY Act last Saturday, calling on the Senate to pass it quickly. Writing in the Financial Times, Esper said weak US digital asset rules are a gift to America’s rivals.
Former Pentagon Chief Calls CLARITY Act a National Security Must
Former Defense Secretary Mark Esper urged the Senate to pass the CLARITY Act in a Financial Times op-ed Saturday. He argued weak digital asset rules let China and North Korea undermine American financial power.… pic.twitter.com/NdOKQ58xiX
- BSCN (@BSCNews) August 10, 2026
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