Treasury Secretary urges Congress to pass Digital Asset Market Clarity Act

https://time.com/5031393/steven-mnuchin-money-sheet-viral/

Treasury Secretary Scott Bessent has urged Congress to pass the Digital Asset Market Clarity Act of 2025 before the upcoming recess, highlighting that lawmakers are nearing a final decision. The Clarity Act seeks to define federal oversight for digital assets by delineating jurisdiction between the SEC and Commodity Futures Trading Commission. The House previously passed the bill with significant support, and the Senate Banking Committee advanced it in May 2026. Bessent emphasized the importance of swift action due to limited Senate floor time, aligning with his previous calls for urgency in passing the legislation. The market’s reaction suggests a perception of increased likelihood for the bill’s passage.

Key Takeaways

• Bessent’s statement appears to indicate substantial progress on the Clarity Act, suggesting a higher likelihood of its passage.
• Market pricing reflects an increase in confidence, as indicated by a rise from 30% to 45.5% YES over 24 hours.
• The Clarity Act aims to establish clear regulatory oversight for digital assets, a significant step for the crypto industry.

What to Watch

The full Senate’s actions will be crucial in determining the Clarity Act’s future, as it still requires Senate approval, House-Senate reconciliation, and a presidential signature. Observers will focus on whether Senate Majority Leader Chuck Schumer schedules a vote soon. Developments, such as a White House announcement or a statement from President Trump, could further influence market perceptions and pricing consistent with a YES outcome.

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