U.S. Treasury Secretary: The CLARITY Act is in its final sprint, urging Congress to pass it before it recesses

On July 22, Cointelegraph reported that U.S. Treasury Secretary Scott Bessent said lawmakers have entered the “final sprint stage” for the CLARITY Act and urged Congress to pass the bill before its August recess.

Bessent emphasized that the legislation is crucial to establishing a comprehensive federal regulatory framework for crypto assets, helping promote financial innovation and strengthen the United States’ competitiveness in the global digital assets space.

Earlier, President Trump had agreed to the bill’s ethics provisions, clearing a key obstacle for the legislative process. Currently, Senate Majority Leader John Thune also hopes to send the bill to the full chamber for a vote before the first week of August recess.

Notably, since the House has already entered recess early on July 23, the Senate is also planning to begin its recess on August 2;

therefore, if the Senate approves and passes the bill before the recess, it will still need to be returned to the House for coordination before it can be finally submitted for the president’s signature.

Overall, with the twofold positive developments—President Trump’s support for the ethics provisions and the Treasury secretary’s public call for passage—the bill may be able to pass through the Senate legislative process before the August recess.

And for the industry as a whole, this may be a key turning point to move past regulatory uncertainty and usher in a new era of standardized development.

#美国财政部长 #CLARITY Act