U.S. Treasury Secretary Announces Clear Act Vote Looms

U.S. Treasury Secretary Scott Bessent announced that the Clear Act, a cryptocurrency market structure bill, is nearing a congressional vote. Citing the '1-yard line' metaphor from American football, Bessent emphasized that the vote is imminent, urging passage before the legislative recess. The Clear Act would clarify regulatory jurisdiction between the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), establishing clear oversight for cryptocurrencies and setting regulatory frameworks for exchanges and businesses. Its passage would resolve long-standing debates over whether cryptocurrencies qualify as securities or commodities, directly impacting exchange registration requirements and corporate compliance obligations. However, the timing of the vote remains uncertain, with media noting that failure to pass before the recess could delay审议 to the next legislative session.