{"id":75754,"date":"2026-07-22T09:32:43","date_gmt":"2026-07-22T09:32:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/treasury-secretary-bessent-says-clarity-act-is-at-the-1-yard-line\/"},"modified":"2026-07-22T09:32:43","modified_gmt":"2026-07-22T09:32:43","slug":"treasury-secretary-bessent-says-clarity-act-is-at-the-1-yard-line","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/treasury-secretary-bessent-says-clarity-act-is-at-the-1-yard-line\/","title":{"rendered":"Treasury Secretary Bessent Says CLARITY Act Is at the &#8216;1-Yard Line&#8217;"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Treasury Secretary Scott Bessent said July 21 the CLARITY Act has reached the \u201c1-yard line.\u201d<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Bitcoin rose toward $67,000 and Coinbase shares jumped 13% after Bessent\u2019s comments.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Indivisible, Demand Progress, and the Revolving Door Project are pressuring Gillibrand over ethics terms.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>A Bill \u2018Almost There\u2019<\/h2>\n<p>Bessent told Bloomberg that the digital asset market structure bill, formally the CLARITY Act, is nearly finished after months of negotiation, calling it a \u201c<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-07-21\/bitcoin-rallies-after-bessent-says-clarity-act-at-1-yard-line\" target=\"_blank\" rel=\"noopener noreferrer\">1-yard line<\/a>\u201d situation for Congress. The comments came the same week Senate Banking Committee member Kevin Cramer told Fox Business lawmakers are \u201calmost there,\u201d adding that the bill grows \u201cclearer\u201d as \u201ceach issue gets dealt with.\u201d<\/p>\n<figure id=\"attachment_833055\" aria-describedby=\"caption-attachment-833055\" style=\"width:1199px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-833055\" class=\"wp-caption-text\">Image source: Bloomberg<\/figcaption><\/figure>\n<p>Markets reacted immediately with bitcoin rising about 2.5% toward $67,000 before retreating to $66,000. Moreover, shares of Coinbase Global jumped as much as 13%, a sign investors are pricing in regulatory clarity as a near-term catalyst rather than a distant possibility.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-833056\" src=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/07\/treasury-secretary-bessent-says-clarity-act-is-at-the-1-yard-line2_nwmk.jpg\" alt=\"BTC price action over the past 24 hours\" width=\"1197\" height=\"742\" srcset=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/07\/treasury-secretary-bessent-says-clarity-act-is-at-the-1-yard-line2_nwmk-300x186.jpg 300w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/07\/treasury-secretary-bessent-says-clarity-act-is-at-the-1-yard-line2_nwmk-1024x635.jpg 1024w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/07\/treasury-secretary-bessent-says-clarity-act-is-at-the-1-yard-line2_nwmk-768x476.jpg 768w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/07\/treasury-secretary-bessent-says-clarity-act-is-at-the-1-yard-line2_nwmk.jpg 1197w\" sizes=\"auto, (max-width: 1197px) 100vw, 1197px\"\/><\/p>\n<p>The math behind passage remains tight as the CLARITY Act needs 60 votes to clear the Senate, and Republicans hold only 53 seats, meaning at least seven Democrats must cross over for the bill to advance. Senate Majority Leader John Thune is aiming to bring the bill to the floor before the chamber\u2019s August recess, with Cramer estimating the Senate has \u201ca couple more weeks\u201d before the break begins.<\/p>\n<h2>The Ethics Provision Snag<\/h2>\n<p>The remaining sticking point centers on ethics language added to satisfy Democratic holdouts. The White House reportedly reached an agreement on ethics-package terms during the week of July 20 and sent draft language to select Senate Republicans, but <a href=\"https:\/\/news.bitcoin.com\/clarity-act-text-trump-meeting-democrats\/\">Democrats say they were shut out<\/a> of those talks and have not yet seen the text themselves, according to reporting on the negotiations.<\/p>\n<p>Bitcoin.com News has tracked the CLARITY Act\u2019s path from a <a href=\"https:\/\/news.bitcoin.com\/pro-crypto-clarity-act-h-r-3633-passes-senate-banking-committee-15-9\/\">15-9 committee vote<\/a> through a period where the bill <a href=\"https:\/\/news.bitcoin.com\/one-year-later-clarity-act-remains-stuck-in-senate-as-crypto-rules-stall\/\">appeared stuck in the Senate<\/a>, and the ethics language is now the last major obstacle standing between committee approval and a floor vote.<\/p>\n<p>Senator Kirsten Gillibrand, who chairs the Democratic Senatorial Campaign Committee, has taken the lead in brokering those ethics terms, and that role is drawing sharp criticism from her own party\u2019s left flank. Three progressive groups, Indivisible, Demand Progress, and the Revolving Door Project, sent a <a href=\"https:\/\/www.axios.com\/2026\/07\/22\/crypto-progressives-kirsten-gillibrand-senate\" target=\"_blank\" rel=\"noopener noreferrer\">letter to every Democratic Senate office<\/a> attacking her involvement. The letter argued:<\/p>\n<blockquote>\n<p>\u201cSenator Kirsten Gillibrand, chair of the Democratic Senatorial Campaign Committee (DSCC), is a prime example of a Democratic leader whose conduct undermines efforts to hold the Trump administration accountable for their rampant corruption.\u201d<\/p>\n<\/blockquote>\n<p>The groups added that \u201ccriticisms of the Trump administration\u2019s overwhelming corruption fall flat when voters perceive the critics to be engaged in substantively similar behavior,\u201d tying Gillibrand\u2019s dealmaking on crypto ethics rules to broader complaints about her fundraising ties to the industry.<\/p>\n<p>Gillibrand has defended her approach by pointing to a specific provision she is pushing: a rule barring elected officials and their spouses from issuing or sponsoring their own digital assets. \u201cThis is a commonsense requirement that should get broad bipartisan support,\u201d she has said, adding that \u201cpublic officials and their spouses should not be issuing memecoins.\u201d That provision appears aimed squarely at preventing repeats of controversies involving politically connected token launches.<\/p>\n<h2>What Happens Before Recess<\/h2>\n<p>The disagreement over process, not substance, is what\u2019s now slowing the bill down. Democrats broadly support some form of ethics restrictions on lawmaker crypto activity; the fight is over who wrote the language and whether it went through the normal bipartisan channel. With Thune targeting a floor vote before the August break and Cramer\u2019s \u201ccouple more weeks\u201d timeline lining up with that deadline, the bill\u2019s fate will likely be decided in a compressed window.<\/p>\n<p>It will now be interesting to see whether Thune can secure seven Democratic votes before the Senate leaves for the August recess.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/clarity-act-bessent-1-yard-line-gillibrand-ethics\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Treasury Secretary Scott Bessent said July 21 the CLARITY Act has reached the \u201c1-yard line.\u201d Bitcoin rose toward $67,000 and Coinbase shares jumped 13% after Bessent\u2019s comments. Indivisible, Demand Progress, and the Revolving Door Project are pressuring Gillibrand over ethics terms. A Bill \u2018Almost There\u2019 Bessent [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":75755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75754"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=75754"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/75754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/75755"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=75754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=75754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=75754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}