Clarity Act Gains Momentum As The Us Treasury Backs Crypto Rules

U.S. Treasury Secretary Scott Bessent has called on lawmakers to move quickly on crypto market structure legislation, warning that inaction risks undermining America's standing in global financial markets.

Bessent made the remarks as the Clarity Act continues to gain traction on Capitol Hill. The bill is designed to establish a clear regulatory framework for digital asset markets, addressing longstanding uncertainty over how cryptocurrencies should be classified and overseen.

Speaking to lawmakers, Bessent tied crypto oversight directly to national economic competitiveness, arguing that U.S. leadership in digital assets is not just a financial issue but a matter of broader geopolitical influence. Falling behind, he suggested, would hand an advantage to rival economies moving faster to regulate and legitimise the space.

The Treasury Secretary's backing marks a notable shift in tone from the executive branch, lending institutional weight to efforts that have so far struggled to clear a deeply divided Congress. Proponents of the legislation argue that a defined ruleset would unlock institutional investment and bring greater stability to a market that has long operated in a regulatory grey zone.