US Treasury Secretary Bessent Puts CLARITY Act At One-Yard Line — Crypto Markets Rally

TLDR

• US Treasury Secretary Scott Bessent puts the CLARITY Act at the “one-yard line” — Senate vote imminent
• Bitcoin retests $67,000 as risk-on flows flood back into crypto
• XRP jumps 4% to lead majors, COIN stock spikes on volume
• US$63 billion added to total crypto market cap within hours
• Malaysian crypto users should pay attention — global digital asset rules shift when Washington moves

CLARITY Act Reaches The “One-Yard Line”

US Treasury Secretary Scott Bessent has told reporters the CLARITY Act — the long-running bill that would finally settle whether digital assets fall under the SEC or the CFTC — is on the “one-yard line” in the Senate. A US senator echoed that language, calling the bill “almost there” after weeks of bipartisan horse-trading over amendments and stablecoin disclosure rules.

The “one-yard line” line matters because Bessent does not usually volunteer crypto timelines. When the Treasury Secretary starts using football metaphors, the market assumes a floor vote is days away, not months. Within minutes, the total crypto market cap jumped by roughly US$63 billion and Bitcoin pushed back toward US$67,000.

Crypto Markets React

Risk-on flows came back fast. Bitcoin reclaimed the US$66,000 handle and put US$67,000 within striking distance. XRP was the standout — it jumped 4% to lead the major-cap rally as traders rotated into tokens that would benefit most from clear US regulation. Coinbase (COIN) stock spiked on heavier volumes, while Ondo Finance (ONDO) pushed 14% higher on speculation that tokenised real-world assets would get a clearer legal home if the bill passes.

BeInCrypto noted that the CLARITY Act “hopes” alone added US$63 billion to the market — the bulk of it in altcoins rather than Bitcoin. That tells you how much regulation clarity has been priced as a discount for months. Even the Senate Banking Committee’s preparation of a formal vote was enough to pull capital back in.

What CLARITY Act Actually Changes

The bill draws a clearer line between the SEC and the CFTC. Under CLARITY, most cryptocurrencies — including Bitcoin and likely XRP and Cardano — would land under CFTC oversight as digital commodities. The SEC would keep its grip on tokens sold as part of an investment contract, plus any platform that looks more like a securities exchange.

For trading platforms and stablecoin issuers, the effect is one regulator, one rulebook, one set of disclosures. That matters because Binance spent two years fighting fragmented US enforcement, and Circle only secured its federal trust bank charter last week. Clear jurisdiction would lower the legal bill for every serious US-facing crypto business — savings that eventually show up in tighter spreads for users.

Why Malaysian Crypto Users Should Care

Bank Negara Malaysia’s stablecoin and tokenisation sandbox is still in beta, and the Securities Commission Malaysia has been reviewing its alternative-asset framework in parallel. When Washington sets the global baseline, Malaysian regulators tend to react within six to twelve months. Anyone trading on Luno, Tokenize Malaysia, or Bybit will feel the downstream effects: tighter stablecoin rules, more institutional-grade custody, clearer tax treatment of tokenised securities.

Local crypto investors should also expect Malaysian platforms to mirror US disclosure requirements — more whitepapers, clearer risk warnings, and fewer “asset-backed” claims that are not actually backed. For most MY users, the practical takeaway is simple: tighter US rules usually mean tighter MY rules, with a short lag.

Our Take

“One-yard line” is technically correct — the Senate can pass the bill quickly if leadership schedules a floor vote. But CLARITY has already survived over 100 amendments and one near-fatal ethics dispute, so we would not bet the house on a smooth landing. A short delay would knock 5-10% off altcoin prices immediately, and the rally we are seeing now will unwind hard if Bessent’s timeline slips.

For Malaysian readers, the second-order effect is the more interesting story. BNM has signalled it is watching the US outcome before finalising its ringgit stablecoin rules. If CLARITY passes cleanly, expect MY crypto rules to harden within the year — better consumer protection, but fewer “innovation” loopholes for smaller local players. If CLARITY stalls, MY regulators will keep waiting, and the sandbox cohort that entered in February will still be waiting with them.

Either way, this is the most consequential week for US crypto policy since the spot Bitcoin ETF approvals — and the spillover into Malaysian wallets and exchanges will be felt long after the Senate votes.

Source

• Bitcoin Magazine — US Senator: Clarity Act Is “Almost There,” Treasury Secretary Puts It At The “1-Yard Line”
• TradingView — COIN Stock Jumps, XRP Leads Crypto Majors After Scott Bessent Signals CLARITY Act Is On Senate’s “One-Yard Line”
• BeInCrypto — CLARITY Act Hopes Add US$63 Billion
• CoinDesk — Clarity odds jump on Polymarket, crypto markets rally on Clarity progress report