Clarity Act
Bitmine buys 42,000 Ether as chair cites Clarity Act optimism
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Bitmine Immersion purchased 42,197 Ether last week for roughly $74 million. Chairman Thomas Lee linked the move to growing optimism that the Digital Asset Market Clarity Act will pass in the United States.
Lawmakers are still working toward passage of the Clarity Act this year despite Congress entering its summer break. Optimism remains among those following the process, though the timeline is narrowing before the midterm elections.
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Republican senators are intensifying efforts to pass the Digital Asset Market Clarity Act before the Senate breaks for August recess. The bill needs Democratic support to reach the required 60 votes. Galaxy Digital has lowered its odds of passage this year to 50 percent.
U.S. Treasury Secretary Scott Bessent has called on Congress to pass the Clarity Act this spring to provide regulatory clarity for digital assets amid market volatility. Speaking in interviews, he highlighted the bill's potential to stabilize markets and noted ongoing negotiations between crypto firms and banks. The legislation faces deadlock over issues like stablecoin rules, with a March 1 deadline for agreement.
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Treasury Secretary Scott Bessent has urged lawmakers to pass the Digital Asset Market Clarity Act before the end of the spring legislative window. In a recent interview, he emphasized the need for clear market structure rules amid ongoing volatility in crypto markets. Bessent highlighted bipartisan support and the importance of resolving disputes over stablecoin provisions.