Treasury Secretary Bessent Calls for Passage of Clarity Act by Summer, Bitcoin Reserves Making 'Steady Progress'

During a Senate Finance Committee hearing on the fiscal year 2027 budget, U.S. Treasury Secretary Scott Bessent strongly urged lawmakers to pass the cryptocurrency market structure bill, known as the Clarity Act (Digital Asset Market Clarity Act), before the summer congressional recess. The Clarity Act represents the first comprehensive federal-level regulatory framework for cryptocurrencies in the United States, setting significant precedents for future SEC (Securities and Exchange Commission) filings and ETF (Exchange-Traded Fund) considerations related to blockchain assets.