The United States is pushing for clearer crypto regulations as volatility continues to pressure digital asset markets. The proposed Crypto Clarity Act is being viewed as a potential turning point that could restore investor confidence and bring long-term structure to the industry.
Treasury Secretary Pushes for Urgent Congressional Passage of Clarity Act
In a recent interview with CNBC, U.S. Treasury Secretary Scott Bessent boldly emphasized that the crypto CLARITY Act would ease market pressure and provide comfort amid aggressive market volatility. Bessent made the statement after being questioned about the bill’s current condition amid a heavy sell-off across the crypto market.
During the interview, Bessent revealed that some crypto firms have attempted to block the passage of the bill in its current form. Despite this resistance, he noted that a bipartisan group of lawmakers is still pushing to pass the legislation. However, he warned that this fragile bipartisan support could collapse if Democrats take control by November 2026.
Given this political uncertainty, Bessent stressed the urgency of moving quickly. He urged Congress to pass the bill to Donald Trump’s desk so it can be signed into law by this spring, describing the timeline as imperative for restoring market confidence.
Meanwhile, the crypto market bill advanced through the Senate Agriculture Committee late last month and now awaits similar progress in the Banking Committee. However, the committee suspended its markup after several industry stakeholders withdrew support, citing concerns over the bill’s proposed ban on stablecoin yields.
In response, the White House stepped in and convened a meeting between banking and crypto executives to address these growing concerns. White House Crypto Advisor Patrick Witt remains confident that the issues will be resolved and the bill will ultimately pass. However, uncertainty persists over whether lawmakers can finalize and approve the legislation this spring.
Current Crypto Market Conditions Keep Pressure on Lawmakers
In the meantime, the crypto market continues to struggle as bears maintain the upper hand over bulls. Major assets such as Bitcoin, Ethereum, XRP, BNB, and Solana continue trading in the red, shedding a large portion of their gains recorded over the past year.
Persistent selling pressure, declining momentum, and cautious institutional positioning have kept sentiment fragile across the broader digital asset market.
Many traders remain defensive, choosing to reduce exposure or hold stable positions until clearer regulatory direction emerges. Thus, market watchers are now closely observing how the Clarity Act could potentially lift overall market conditions once it is finally signed into law.
The CoinRemark Team
Evans Kelvin
