BlockBeats News, February 14 — U.S. Treasury Secretary Scott Bessent stated that, amid the ongoing market downturn, advancing the CLARITY Act could help improve market sentiment.
Bessent said in an interview with CNBC on Friday that concerns among crypto industry executives have hindered the progress of the CLARITY Act, negatively impacting the industry. He stated, “During this historic sell-off, I believe that if we can clarify the direction of the CLARITY Act, it will greatly boost market confidence, and we can move forward based on that.”
However, Bessent added, “If the Democrats take control of the House, which is not what I expect, then the prospects for reaching an agreement will be completely dashed.”
Bessent noted that, considering the potential shift in power from the 2026 midterm elections, it is crucial to push the bill through “as soon as possible” and have it signed by President Trump before the U.S. spring (late March to late June).
According to data from the U.S. House of Representatives, the Republican Party currently holds a narrow majority with 218 seats to the Democrats’ 214.
On Polymarket, 47% of traders believe that the 2026 midterm elections will result in a “divided Congress,” with each party controlling one chamber.
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