The Digital Asset Market Clarity Act is picking up steam in Washington. High-ranking officials from the Trump administration and pro-crypto lawmakers become more vocal in pushing Congress to move the legislation forward.
CLARITY Act Approval Odds Amid Lawmakers’ Push
Treasury Secretary Scott Bessent was out front as he urged the Senate and House to get the bill moving. He said the U.S. needs to define digital assets and place crypto activity in the hands of the country’s regulators.
Bessent said that regarding the administration’s plans there would be “no central bank digital currency.” He called it “the first step toward tracking.” He also indicated that the House of Representatives had already been supportive of bipartisan stablecoin legislation. Hence, he is now pushing to have lawmakers move on to the CLARITY Act.
“And the Clarity Act is now up on the Hill,” Bessent said. Moreover, he declared, “I think it has bipartisan support.”
The Treasury secretary said that he believes that regulatory clarity could help drive off-shoring of digital asset business. Many of the industry’s controversies, Bessent said, have arisen from the unregulated foreign markets, which might not meet strict U.S. regulations.
“When you look at digital assets, all the nonsense that happens, all the things you read about, that’s because it’s the wild, wild west offshore,” Bessent stated. He added, “So we got to bring it on shore.”
In the meantime, traders on prediction site Polymarket were stacking the odds on the approval of the CLARITY Act. At press time, the market showed a 57% chance of the CLARITY Act becoming law in 2026. Earlier, the odds fell from 75% to 49% as the bill faced a delay amid the Senate recess.
Now, this crypto bill faces a tight deadline in June 2026 for a Senate floor vote.
Senator Cynthia Lummis Rallies Behind Bessent
At the same time, Wyoming Senator Cynthia Lummis re-launched her bid for the CLARITY Act. She called it a consumer protection bill as well as a protector of American software developers.
“Without the Clarity Act, if a digital asset exchange goes bankrupt, customers have no guaranteed right to their own assets,” Lummis wrote. Currently, consumers face the possibility of long battles with c
reditors and big dollar financial institutions, as well as legal enforcement action, she added.
Lummis also cautioned that software developers may encounter legal wranglings again if Congress does nothing. “If the Clarity Act doesn’t pass this Congress, American software developers will be targeted again for prosecution in the near future just for publishing code,” she said.
The senator also commended President Donald Trump’s stance on cryptocurrencies. She compared his approach to previous administrations that she said “senselessly punished” the industry. Thus, she called on Congress to approve the bipartisan bill and present it to Trump’s desk.
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