
Treasury Secretary Scott Bessent sets a March 1 deadline for industry consensus on the 'Clarity Act,' emphasizing the need to pass legislation by spring to stabilize the crypto market.
U.S. Treasury Secretary Scott Bessent urged Congress to pass the 'Clarity Act' by spring to restore investor confidence amid the ongoing market sell-off. Speaking on CNBC, Bessent emphasized that the crypto industry and banks must agree on market structure legislation by March 1 to meet the signing timeline. He warned that the legislation faces significant risks if not enacted quickly, noting that a potential Democratic House victory in 2026 could derail the bill given the Republicans' slim 218-214 majority.