Clarity Act latest update:

Clarity Act is nearing the finish line: Treasury Secretary says it’s “at the one-yard line,” with the passage probability rising to 60%

July 24, 2026 Comprehensive Report

The U.S. crypto market structure bill, the “Clarity Act” (Clarity Act), has recently seen key progress.

Bloomberg’s latest report shows that Treasury Secretary Scott Bessent publicly said the bill is at “one-yard line” position, strongly urging Congress to complete the vote before the August recess. In the Bloomberg Intelligence episode “Political Exchange,” analyst Nathan Dean said there are currently two major obstacles the bill still faces:

Ethics Language: Reports say President Trump has agreed to the relevant text. But Senate Democrats have not yet officially seen the final version, so there could be disagreements.

Bank-level regulatory requirements: Elevating crypto platforms such as Coinbase and Robinhood under the Bank Secrecy Act, KYC (know your customer) requirements, and consumer protection, to the same regulatory level as traditional banks.

Dean said that if these two issues are resolved, the probability the bill passes this year is about 60%. He emphasized: “The Senate has only two weeks left. If they miss the August recess, September will face the risk of a government shutdown, and then the election season—making it much harder.”

Supporters vs. opponents on party stances: Former chair of the House Financial Services Committee Patrick McHenry previously said, “The passage of the Clarity Act isn’t a question of ‘whether,’ but ‘when.’”

Opponents: Senator Elizabeth Warren has taken a hardline stance, calling the bill “dead on arrival,” arguing it cannot effectively curb the crypto gains of the Trump family and would even “supercharge corruption.” She also criticized the bill for major loopholes in investor protection, financial stability, and national security.

Market reaction

Bessent’s remarks have helped revive crypto market sentiment. Bitcoin and related crypto stocks rose, and the market broadly sees the Clarity Act as a key step toward implementing a U.S. digital asset regulatory framework. Industry analysts believe that if the bill can pass before August, it will provide the long-awaited “regulatory clarity” for the crypto industry, help attract institutional capital, and solidify the U.S.’s leadership position in global digital assets. Conversely, if delays continue, regulatory uncertainty may keep weighing on the market.

At present, Senate Majority Leader John Thune is under strong expectation to arrange the final vote, allowing lawmakers from both parties to publicly state their positions.