U.S. Treasury Secretary Scott Bessent strongly signaled that the Clarity Act crypto bill is now at the finish line, urging Congress to swiftly pass it into law. The breakthrough comes after President Trump reportedly agreed to accept an ethics clause that had been stalling the bill’s progress in the Senate. Proposed by Democrats, the clause strictly prohibits the president and his family members from directly profiting from cryptocurrency ventures.
The concession comes amid heavy scrutiny, as the Trump family reportedly amassed over $1.2 billion in revenue from various crypto ventures throughout 2025. Senator Cynthia Lummis, Senator Bernie Moreno, and White House officials reportedly reached an agreement on the wording of the ethics clause last Sunday, though the exact text has not yet been made public.
Asset Prices and Passage Odds Rise in Tandem
The political developments in Washington immediately stirred the market. On betting platform Polymarket, the odds of the bill passing climbed to 43%, a sharp rebound from its recent low of 32%. Market participants appear to view Republicans’ willingness to compromise on conflict-of-interest rules for the president’s family as a positive catalyst.
Bitcoin responded to the news by climbing above $66,000, aligning with spot ETF inflows that exceeded $700 million over the past five days.
XRP also saw an immediate boost from the development, climbing 3.6% to $1.152 and breaking through the $1.13 resistance level that had capped every rally attempt since late June. If enacted, the legislation would formally classify XRP as a digital commodity, clearing regulatory ambiguities that have suppressed institutional demand for years.
Tight Window Before August Recess
Despite internal Republican consensus, the biggest hurdle has now shifted to the calendar. The Senate must hold a floor vote before heading into its August recess, leaving a remarkably narrow window to align legislative votes.
As of this writing, it remains uncertain whether Senate Democrats will accept the compromise draft put forward by Lummis’ camp. Without swift action, the hard-won deal could fall apart if time runs out before the Senate gavel strikes.
Source: @WatcherGuru on X.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
