Bitcoin Rallies After Bessent Says Clarity Act at '1-Yard Line'
BLOOMBERG LAW ·
Crypto markets are stirring after months of listless trading on signs that Washington is moving toward a clearer rulebook for digital assets. Bitcoin rose 2.5% at one point on Tuesday, inching toward $67,000, while shares of Coinbase Global Inc. climbed as much as 13% after Treasury Secretary Scott Bessent said lawmakers were at the “1-yard line” on the Clarity Act. He urged Congress to pass the long-awaited bill before leaving for recess. Ether added as much as 2.5% to trade around $1,950, and smaller tokens also rallied. Bessent’s comments on Tuesday added a fresh catalyst to signs the sector’s latest ... Bloomberg Law provides trusted coverage of current events enhanced with legal analysis. Log in to keep reading or access research tools and resources.
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Bitcoin surged shortly after Scott Bessent stated that the Clarity Act has reached the final one-yard line. This remark injected expectations into the crypto market that regulatory clarity will significantly increase. Investors are focusing on the accelerated integration into the mainstream financial system and recovering their preference for risky assets.
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- Bitcoin — Expectations for the final passage of the Clarity Act are rising, which is expected to resolve regulatory uncertainty and accelerate the inflow of institutional funds.
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