Senator Cynthia Lummis and Treasury Secretary Scott Bessent are intensifying pressure on the U.S. Senate to pass the CLARITY Act, warning that the current legislative window may be the last chance for years. Lummis stated that failure to act now could delay comprehensive crypto market-structure legislation until at least 2030. This urgency comes as prediction markets show the odds of the bill becoming law in 2026 have slipped to approximately 56%, down 9 points from the previous day.
Treasury Secretary Scott Bessent amplified the call in a Wall Street Journal op-ed, explicitly urging Congress to pass the CLARITY Act. He argued that the lack of a clear federal regulatory framework is driving cryptocurrency development and innovation to jurisdictions like Abu Dhabi and Singapore, undermining U.S. competitiveness.
The CLARITY Act, formally H.R. 3633, passed the House on July 17, 2025, by a vote of 294-134 and was received by the Senate Banking Committee on September 18, 2025. However, progress has stalled. Senator Tim Scott announced on January 14, 2026, that a committee markup was postponed as bipartisan talks continue. According to Reuters, the current dispute centers on specific provisions regarding stablecoin interest and rewards.
The proposed legislation aims to establish clear jurisdictional lines between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). A Senate Banking Committee summary from January 13, 2026, stated the bill would also include a strong illicit-finance framework and protect lawful self-custody and software development. Advocacy group Coin Center confirmed on January 14, 2026, that key provisions like the Blockchain Regulatory Certainty Act (BRCA) were attached and unmodified in the Senate draft, restricting Treasury and SEC jurisdiction over software developers.
Despite the high-stakes political push, the immediate market reaction was muted. At the time of the reports, Bitcoin was trading around $73,089 with minimal 24-hour movement, suggesting that policy clarity and short-term market sentiment are currently on separate timelines.
