US Treasury backs CLARITY Act Senate passage

TLDR

The US Treasury is publicly urging the Senate to pass the Digital Asset Market CLARITY Act, signaling strong support but not guaranteeing the bills approval.

1. Treasury Secretary Scott Bessent says the CLARITY Act is at the one yard line, pushing for a Senate vote before the August recess after an ethics deal was reached.
2. The bill would create a first comprehensive US federal crypto framework, split oversight between SEC and CFTC, and add ethics rules and stronger consumer protections that markets view as bullish.
3. It still needs 60 Senate votes and fast scheduling; prediction markets put 2026 passage odds around 40 to 50 percent, so Democratic support and floor timing are key.

Confidence: high; several major outlets report the same Treasury stance in the last 24 hours.

Deep Dive

1. Treasurys Backing And Message

Treasury Secretary Scott Bessent has repeatedly urged Congress to finalize the CLARITY Act, describing it as being at the one yard line of enactment and calling for passage before the August recess in recent interviews and reports. Crypto and finance media note that Bessents comments come after the White House agreed to the CLARITY Act ethics package, which had been the main obstacle in the Senate. Articles summarizing his statements report prediction market odds for passage rising from roughly 30 percent to the mid?40s as traders price in Treasury support and perceived progress on negotiations.1

2. What The CLARITY Act Would Do

The Digital Asset Market CLARITY Act would give US crypto its first full federal rulebook, with the Commodity Futures Trading Commission overseeing digital commodities like Bitcoin and the Securities and Exchange Commission supervising tokens that function like securities.2 The ethics package bars presidents, vice presidents, lawmakers, and senior officials from profiting from crypto while in office, addressing conflict?of?interest concerns that had stalled the bill. Negotiations also added stronger consumer protections around custody, disclosures, and anti?fraud rules, which industry voices at firms like Coinbase have framed as giving the bill more teeth while still creating clearer paths for compliant exchanges and issuers.3

3. Current Status And What To Watch

Despite Treasury backing, the bill is not law yet. The House passed its version in 2025, and the Senate Banking Committee advanced a draft, but the full Senate still must vote, reconcile texts, and reach 60 votes to clear a filibuster.1 Republicans hold a narrow majority, so at least seven Democratic senators need to support the ethics and consumer?protection language. Prediction markets tracked by Vera show odds for 2026 enactment hovering around 40 to a bit above 50 percent, reflecting real momentum but also non?trivial risk of delay or failure. Key signals to watch are whether Senate leadership actually schedules a pre?recess floor vote, whether any bloc of Democrats publicly backs the ethics compromise, and whether further amendments reopen controversy around DeFi or stablecoins.

Conclusion

Treasurys push places clear political weight behind the CLARITY Act and has already lifted market confidence around US crypto regulation. For crypto users and builders, the near?term story is about timing and coalition building in the Senate: a successful vote could mark a major shift toward clearer federal rules, while another stall would extend the current patchwork and keep regulatory risk elevated for US?exposed projects.