U.S. Treasury Secretary Bessent Urges Congress to Pass Crypto Regulation Bill

The CLARITY Act would establish a federal market structure for digital assets, delineating oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission while strengthening consumer protections and anti-money-laundering safeguards. Supporters say regulatory certainty is critical to keeping crypto investment, jobs and innovation in the United States as jurisdictions worldwide compete to shape the industry’s rules.

Treasury Secretary Scott Bessent urged the Senate to vote on the legislation before its recess, warning that further delay could cost the US its leadership in digital assets. The House passed the measure on July 17, 2025, by 294 votes to 134. Bessent sharpened his appeal by invoking Bitcoin creator Satoshi Nakamoto, using the pseudonymous developer’s words to press Democratic senators to move quickly.

US crypto assets have long been overseen separately by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), with no clear line determining whether a token is a security or a commodity. The Digital Asset Market Clarity Act aims to delineate the agencies’ responsibilities, reduce regulatory uncertainty for the industry and cement US leadership in setting global rules for crypto finance.

US Treasury Secretary Scott Bessent recently urged Congress in an opinion piece to pass the bill this summer. The House approved it by a 294–134 vote on July 17, 2025, but it still awaits Senate action. The White House had pushed to complete the legislation by July 4, while prediction markets currently put its chance of passage this year at about 70%. Bessent also said the Strategic Bitcoin Reserve is moving forward cautiously.