U.S. Treasury Secretary Scott Bessent said the passage of the Clarity Act (a proposed crypto market structure bill) could provide ‘great comfort’ to markets during a period of heightened volatility for Bitcoin and Ethereum. In a televised interview, Bessent framed some of the market’s turbulence as ‘self-induced’ and pointed to industry disagreements—especially around stablecoin yield limitations—as a factor slowing progress.

Key details

- Bessent urged moving the bill to the president’s desk quickly, citing the value of regulatory clarity.

- He suggested a bipartisan coalition exists but warned political shifts after midterms could undermine prospects.

- Prediction markets have priced the bill at roughly a ~62% chance of being signed into law by the end of 2026 (per Decrypt’s report).

Why it matters

A U.S. market-structure framework would likely define oversight boundaries between agencies, influence exchange and broker-dealer pathways, and affect how stablecoins can be marketed to consumers. For BTC and ETH, reduced regulatory uncertainty can shape institutional appetite and risk premiums.

What to watch

Industry lobbying over stablecoin rewards and consumer yield products remains a key friction point. Watch committee timelines, compromise language, and which major U.S. platforms publicly back—or oppose—the final text.

Source: Decrypt