Key facts
- The Clarity Act, a bill focused on digital asset regulation, is reportedly gaining momentum in the U.S. Senate.
- Democrats have introduced consumer protection rules to the legislation.
- Treasury Secretary Scott Bessent described the bill as being at the '1-yard line.'
- Lawmakers are aiming to pass the crypto market-structure bill before the August recess.
Senate negotiators report that the Clarity Act, a bill designed to establish regulatory clarity for digital assets, is nearing completion. According to Coinbase vice chair Ryan VanGrack, Democrats have incorporated consumer protection rules into the legislation. Treasury Secretary Scott Bessent has characterized the bill's progress as being at the '1-yard line,' indicating it is very close to being passed. Lawmakers are reportedly working to secure passage of the crypto market-structure bill before the upcoming August recess.