#TradFi交易分享挑战

"Clarity Act" Approaching the Countdown? U.S. Treasury Secretary Breaks Norms at Capitol to Support! The U.S. Is Getting Serious This Time

U.S. Treasury Secretary Janet Yellen hurriedly went to Capitol Hill. This time, she’s not there to discuss tariffs or Iran sanctions, but specifically to talk about the Crypto Market "Clarity Act" (CLARITY Act).

This is very rare. Looking back, has any other Treasury Secretary done this? It seems not.

Her words were quite straightforward: The main reason for all the chaos in the crypto industry is that many activities have moved overseas, where there’s no regulation. So, she wants to bring these activities back to the U.S.—and she explicitly stated that the U.S. will not develop a central bank digital currency in the future.

In fact, if you understand Janet Yellen, you’ll know she’s a very special figure in the Trump administration. She has a background as a Wall Street hedge fund manager and holds an open attitude toward cryptocurrencies.

Moreover, her stance on crypto-related legislation reflects the core demands of the Trump administration: keep crypto business and industry innovation within the U.S., and prevent them from flowing to Singapore, Hong Kong, Switzerland, or the Cayman Islands.

At the same time, Senator Lummis also issued a stern warning at the same time. She said:

"If the CLARITY Act doesn’t pass Congress this year, U.S.-based crypto developers will soon face the risk of being prosecuted just for publishing code, which would be extremely terrifying."

Lummis is not an ordinary U.S. senator (she is the chair of the Senate Banking Committee’s subcommittee), and she has been pushing for the CLARITY Act since last year, so her words carry weight!

Her warning also implies another point: when crypto exchanges suddenly go bankrupt, who legally owns the assets on the exchange is completely unclear.

The lesson from the FTX collapse is still fresh: users’ funds and exchange funds were mixed together, and during bankruptcy liquidation, users’ funds ended up behind creditors.

It’s clear that the CLARITY Act also aims to address this issue—clarifying the classification of digital assets, the responsibilities of crypto giants and institutions, and the priority order of user assets in bankruptcy.

1. Where is the CLARITY Act now?

Currently, this crypto-related bill is basically just one step away from passing:

Early 2026: Passed by the U.S. Senate Agriculture Committee;

May 14, 2026: Passed by the Senate Banking Committee with 15 votes in favor, 9 against;

Now: Waiting for a full Senate vote, with the critical date set for June 2026.

It’s obvious that the bill is now on the official legislative schedule and is in the final sprint.

On the global largest prediction market Polymarket, the probability of the bill passing is quite interesting. The CLARITY Act had once surged to an 82% chance of passing in 2026, but then dropped to 42% after the Senate recess.

Last night, after Treasury Secretary Janet Yellen and Senator Lummis publicly showed support, it nudged back up slightly to 57%.

2. Will the CLARITY Act pass this year?

I can’t say for sure it will pass, but it’s closer than ever before. Passing major financial regulation in the U.S. has never been smooth!

On one hand, a very practical issue is that Trump’s agenda currently focuses on Iran negotiations and trade wars. Crypto-related legislation is important but not urgent, and with bipartisan opposition, whether it can be prioritized is uncertain.

However, the chances of the bill passing now are closer than ever before. The reason is simple: Treasury Secretary Janet Yellen’s trip to Capitol Hill specifically to discuss this matter is unprecedented—this signals something you can’t ignore.

Moreover, the Senate Banking Committee’s 15-9 vote indicates that this bill is not only supported by Republicans.

This year is the window for the bill. Missing it could mean waiting a long time, and what if the next administration’s attitude changes? If missed, the first to be affected will be those involved in coding and DeFi.