After months of stalemate, Treasury Secretary Scott Bessent is putting fresh pressure on Congress to revive the CLARITY Act, a bill designed to create clear rules for cryptocurrency markets in the United States. Bessent told lawmakers they need to act before the spring legislative window closes. He called the bill essential for the future of bitcoin and digital assets in America. The Treasury Department wants Congress to schedule new markup sessions soon, despite pushback from some groups. Clear market structure rules could also speed up faster settlement times for digital-asset trades.
Treasury Secretary Scott Bessent urges Congress to act on the CLARITY Act before the spring legislative window closes amid ongoing stalemate.
The CLARITY Act passed the House on July 17, 2025, with strong support from both parties. The vote was 294 to 134, showing most lawmakers agreed on the need for crypto rules. The bill then moved to the Senate, where things slowed down. Senator Tim Scott said he wants the Senate to pass market structure legislation by September 30, 2025. His Banking Committee released a discussion draft on July 22, 2025, using the CLARITY Act as a starting point.
So what is holding everything up? The main fight involves stablecoin yields and how much control different agencies should have. Stablecoins are digital currencies tied to the dollar. Some companies want to offer rewards or interest on stablecoin accounts. Major exchange executives argue that blocking these rewards would hurt American competitiveness and innovation.
But traditional banks and credit unions worry that high yields on stablecoins could pull deposits away from them. This threatens their ability to fund loans and other activities. A January 12, 2026 Senate Banking Committee draft included provisions restricting interest on simple stablecoin holdings while permitting activity-linked stablecoin incentives.
The CLARITY Act would give the Commodity Futures Trading Commission exclusive power over digital commodity spot markets. The Securities and Exchange Commission would keep jurisdiction over investment contract assets. This division aims to reduce confusion about which agency regulates what. The bill would also create registration rules for digital commodity exchanges, brokers, and dealers. The Conference Board has noted that regulatory clarity could help ease the pessimism European business leaders have expressed about fragmented digital asset frameworks.
Despite broad agreement from many financial firms and crypto companies, a vocal minority on both sides continues blocking progress. The White House believes clear market structure rules could attract innovation and capital back to American shores. Treasury officials remain optimistic that Congress can find common ground and move forward soon.
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