U.S. Treasury Secretary Scott Bessent is urging senators to advance the Clarity Act (H.R. 3633), a bill aimed at establishing a clear regulatory framework for digital assets. The legislation would place digital commodities under the oversight of the Commodity Futures Trading Commission (CFTC) while preserving the Securities and Exchange Commission’s (SEC) authority over securities-like crypto assets. Market participants appear to view Bessent’s push as a positive signal for the bill’s passage, as reflected in the recent uptick in market pricing. Further developments will depend on Senate actions following the recess and key figures such as Tim Scott and Cynthia Lummis.
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