Former US Defense Secretary Mark Esper says the CLARITY Act is not merely a financial services bill, its a national security one.
A former US defense secretary has urged the Senate to pass the CLARITY Act, arguing that weak digital asset rules create openings for North Korea and China to undermine American financial power.
In an op-ed in the Financial Times on Saturday, former US Secretary of Defense Mark Esper said Beijing is already investing in state-directed payment systems to sidestep American supervision and erode the US dollar’s central role.
“I have long argued that China is the greatest strategic threat of our lifetime,” said Esper, who also serves as a member of the Coinbase Global Advisory Council.
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