Bessent: CLARITY Act at 'One-Yard Line', Democrats Remain Opposed

U.S. Treasury Secretary Scott Bessent believes that the CLARITY Act is 'at the one-yard line,' just short of a congressional vote, indicating strong expectations for passage.

The bill would fundamentally overhaul the U.S. cryptocurrency market structure by clarifying jurisdictional boundaries between the SEC and CFTC over cryptocurrencies.

However, Democratic opposition continues to simmer within Congress over an ethics provision accepted by the White House, leaving the bill's fate far from certain.