Treasury Secretary Scott Bessent said the U.S. crypto market structure bill is at the “1-yard line,” while Aptos CEO Avery Ching said clearer rules could draw banks, investment firms and large companies into digital assets.
U.S. Treasury Secretary Scott Bessent said the CLARITY Act, a crypto market structure bill, is at the “1-yard line” in Congress and urged lawmakers to pass it before recess, Bloomberg reported on July 21. The bill is intended to clarify regulatory jurisdiction between the SEC and the CFTC, a longstanding issue for the digital-asset industry. Separately, Aptos Labs CEO Avery Ching said the CLARITY Act, alongside the GENIUS Act, could become a core legal foundation for the sector by reducing legal uncertainty and making it easier for banks, investment firms and other large institutions to enter crypto markets. Ching also said asset digitalization and wider use of artificial intelligence could reshape finance over the next five years, with products such as U.S. Treasury bonds, money market funds and stocks potentially traded more efficiently as digital assets on blockchain infrastructure.