6 days ago
6
Key Takeaways
- Treasury Secretary Scott Bessent is pushing the Senate to pass the CLARITY Act before the 2026 midterms.
- The bill has been stalled in the Senate for over 260 days, blocked primarily by disagreements over stablecoins yields.
- A new White House economic study undercuts the banking industry’s main objection.
- Polymarket traders currently put the bill’s chances of being signed into law this year at 63-72%.
The bill, which would create the first comprehensive federal framework for digital asset markets outside of stablecoins, passed the House in July 2025 by a 294-134 vote but has since been effectively frozen in the Senate for more than 260 days over a single contentious issue: whether stablecoin issuers should be allowed to pay interest or yield to holders.
The Competitive Urgency Argument
In a WSJ op-ed, Bessent made his argument, which is primarily one of competitive urgency. Without a defined federal framework, he wrote, dig...
English (US)