Crypto markets are stirring after months of listless trading, moving higher on signs that Washington is inching toward a clearer rulebook for digital assets.
A push from the Treasury
Bitcoin climbed more than 2% toward $67,000 on Tuesday, snapping out of a stretch of quiet trading.
The move followed comments from Treasury Secretary Scott Bessent, who said lawmakers were at the “1-yard line” on the Clarity Act.
Speaking on the Bloomberg Terminal, Bessent framed the bill as nearly finished:
“1-yard line.”
He urged Congress to pass the long-awaited legislation before members leave for recess.
Coinbase leads the rally
Shares of Coinbase Global Inc. reacted sharply to the news, jumping as much as 12.6% during the session.
The rally wasn’t confined to the largest names either, as smaller tokens also moved higher alongside bitcoin.
The reaction underscores how sensitive the market remains to regulatory signals from Washington after a prolonged period of thin volume and sideways price action.
Regulatory clarity in focus
The Clarity Act has been one of the most closely watched pieces of legislation in the digital asset space, with the industry pressing for defined rules of the road.
Bessent’s remarks suggest the bill is closer than ever to a vote, though passage still hinges on Congress acting before the recess window closes.
For now, the market appears to be pricing in optimism that a clearer framework could finally arrive.
