U.S. Senate Banking Committee Chairman Tim Scott (팀 스콧) publicly said he would push for passage of the “Clarity Act,” a bill laying out a regulatory framework for the U.S. cryptocurrency market.

On July 23 local time, blockchain media outlet U.Today reported he said on X, formerly Twitter, that he would press ahead with the bill to create a legal cryptocurrency market structure for Americans.

The remarks came shortly after Senator Cynthia Lummis released a revised draft of the Clarity Act. The bill is the product of joint work by the Senate Banking Committee and the Agriculture Committee. Its core is a joint proposal for a regulatory framework for cryptocurrencies and digital commodities in the United States. A key point of the move is that related discussions in the Senate have advanced from individual lawmakers to a committee collaboration stage.

Scott said, “The Clarity Act will protect Americans’ assets,” and argued it would “give entrepreneurs a fair shot” and “build businesses and create jobs.” He linked crypto regulation not simply to promoting the industry but to investor protection, employment and economic growth.

He also praised cooperation in pushing the bill, citing Senate Agriculture Committee Chairman John Boozman and Cynthia Lummis, chair of the digital assets subcommittee. He reaffirmed that the two committees working together to build a regulatory framework is an important pillar of the legislative discussions.

Lummis also described the revised draft she released the previous day as the result of cooperation between the Banking Committee and the Agriculture Committee. She added that the coming weeks could be Congress’s best opportunity in years to pass meaningful digital asset legislation.

The market views the legislative push as something that could affect major cryptocurrencies, including bitcoin and XRP. Some assess that if discussions advance in a direction that reduces legal uncertainty in the United States, it could be a meaningful breakthrough for major cryptocurrencies overall. In particular, if regulatory clarity around market structure is secured, standards for investor protection and industry activity could become clearer.

However, at this stage the political will to pass the bill and coordination on the draft have only begun in earnest. Final agreement in the Senate is needed for it to become law. The Banking Committee chair publicly expressing legislative intent shows the discussion around the Clarity Act is moving a step beyond symbolic support. Over the next few weeks, the pace of coordination in the Senate and whether there is agreement on the final text are expected to determine the direction of the U.S. crypto regulatory framework.

The Clarity Act protects everyday Americans and their hard-earned money, gives entrepreneurs a fair shot to build and create jobs here at home, and strengthens our national security by making it harder for criminals and foreign adversaries to exploit our financial system. I’m… https://t.co/98by9uoSm2