Bessent Urges Congress to Pass Clarity Act for Crypto Regulations

Treasury Secretary Scott Bessent has called on Congress to pass the Clarity Act, a bipartisan bill that would establish a formal regulatory framework for U.S. crypto markets.

The push from the nation's top financial official signals growing urgency around digital asset legislation as Bitcoin trades near $71,074 amid extreme fear in the market.

The Clarity Act, formally designated H.R.3633, was introduced on May 29, 2025 by Rep. J. French Hill and would create a federal framework where the CFTC would generally regulate digital commodities while the SEC retains jurisdiction over securities-linked digital asset activity.