Bessent Signals Imminent Breakthrough

U.S. Treasury Secretary Scott Bessent said Monday that the Digital Asset Market Clarity Act — known as the Clarity Act — is now very close to final passage in Congress. According to Seeking Alpha, Bessent used a sports metaphor, describing the legislative process as being on the "1-yard line" — just outside the end zone in American football.

The remarks sent a strong signal to markets. Crypto-related stocks reacted swiftly, posting significant gains in the wake of the news, reflecting the ongoing market optimism surrounding regulatory clarity in the United States.

Clarity Act on the One-Yard Line: Crypto Stocks Surge - Bilde 1

What Is the Clarity Act?

The Clarity Act (H.R. 3633) is proposed U.S. legislation designed to establish a clear legal framework for digital assets. Its overarching goal is to put an end to years of uncertainty over which regulatory authority — the securities-focused SEC or the commodities-oriented CFTC — actually holds jurisdiction over various crypto assets.

The House of Representatives passed the bill in July 2025 by a vote of 294 to 134. The Senate Banking Committee approved its portion of the legislation in May 2026 by a vote of 15 to 9, according to available research documentation.

The bill introduces three categories for crypto assets: digital commodities, investment contract assets, and payment stablecoins.
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Three New Categories — and Stronger Investor Protections

Among the bill's central provisions is the introduction of a three-tier classification system for crypto assets. Digital commodities would be regulated by the CFTC, while securities-classified assets would continue to fall under the SEC. Payment stablecoins would be regulated in accordance with the already-enacted GENIUS Act.

The bill also requires crypto exchanges to hold customer funds in segregated accounts — a direct response to the collapse of the FTX exchange. In addition, it restricts insiders' ability to quickly sell tokens, a measure intended to curb market manipulation.

For decentralized finance (DeFi), the bill introduces so-called "safe harbors" that provide legal protection to developers and network validators who do not directly handle customer funds.

The Senate Is the Final Hurdle

Despite Bessent's optimistic framing, one critical step remains: a full floor debate and vote in the Senate. The bill has faced opposition from parts of the Democratic caucus, including over ethics provisions that restrict the president's and members of Congress's ability to profit from digital assets while in office.

Critics, including the think tank Center for American Progress, have argued that the bill could potentially create loopholes for money laundering and undermine national security — claims that the industry and the bill's proponents reject.

294–134
House of Representatives vote
15–9
Senate committee approval

What Does This Mean for Markets?

A passed Clarity Act would represent a fundamental shift in the regulatory landscape for crypto in the United States. Analysts expect that clear rules will open the door to greater institutional participation, as traditional financial institutions have historically been hesitant to engage with a market defined by legal uncertainty.

The bill also allows banks, savings institutions, and credit unions to use digital assets and blockchain technology in activities they are already licensed to conduct — such as payments, lending, and custody of assets.

With the Fear & Greed Index at 25 out of 100 and Bitcoin trading around $66,430 at the time of publication, this is unfolding in a market already characterized by risk-averse sentiment. Nevertheless, news of the bill's progress provides concrete momentum for the sector.