Bettors on Polymarket raised the odds that the Clarity Act will pass this year to 43 percent following unverified reports that President Trump agreed to an ethics provision.
The move came after reports indicated that Trump accepted a key ethics measure that had stalled the crypto market structure bill. A source familiar with the matter told CoinDesk that a preliminary agreement was reached during a July 16 meeting with Republican Senators Bernie Moreno and Cynthia Lummis and White House crypto adviser Patrick Witt.
No bill text has been released publicly, and Democrats say they have not yet seen it. The White House and offices of the senators involved have not commented on details.
Bitcoin rose above $66,000 and gained about 3 percent in the prior 24 hours, with ether and XRP also posting gains. Traders attributed much of the broader rally to strength in AI and semiconductor stocks rather than the legislative news.
The legislation would establish the first comprehensive federal framework for digital assets and divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The Senate has until early August to vote.
