Bitcoin News
U.S. Treasury Secretary Scott Bessent pressed the Senate on July 30, 2026, to immediately consider the Clarity Act, framing the long-delayed bill as the decisive test of whether the United States will keep control of Bitcoin (BTC) and the wider digital-asset industry. In a direct appeal on X, Bessent said the House passed the measure more than a year ago and that committee staff have since spent thousands of hours revising the text across party lines. He argued that a floor-ready proposal is waiting, and that further delay would push crypto innovation offshore rather than address legitimate concerns about consumer protection and illicit finance. The Treasury secretary emphasized Titles II and III, saying they would raise compliance expectations for digital-asset intermediaries and move them closer to traditional financial standards. He also defended the Blockchain Regulatory Certainty Act inside the package, saying it preserves longstanding policy that decentralized software developers should not face Bank Secrecy Act registration merely for writing code. The Fraternal Order of Police, once opposed, now supports the revised package, Bessent said. To underscore the political stakes, Bessent quoted Satoshi Nakamoto, the anonymous creator of Bitcoin, with a line about not having time to persuade skeptics. The bill would create a federal market-structure regime and place most crypto assets under CFTC jurisdiction, while leaving a defined role for the SEC. Its path remains tied to unresolved ethics language, including provisions that would prevent sitting federal officials, including the president, from launching or backing digital tokens during their service. Senate Majority Leader John Thune has said he does not expect final passage before the August recess, making the next few days a likely cutoff for any meaningful progress before midterm campaigning absorbs Washington. For Bitcoin markets, the immediate question is whether lawmakers can convert bipartisan drafting work into binding rules before the calendar runs out.
The sharper edge of Bessent’s argument was political. He accused Senate Democrats of blocking the Clarity Act because they fear Senator Elizabeth Warren and the anti-crypto constituency she has cultivated, and he cast the vote as a choice between American leadership and regulatory surrender. That language reflects a broader pattern in Washington, where altcoin policy has become entangled with presidential ethics, campaign finance, and the commercial activities of the Trump family. Warren has repeatedly warned that the current draft would make illicit money movement easier and would not adequately prevent President Donald Trump from profiting from crypto ventures while in office. Republicans responded by adding ethics provisions that would prevent covered federal officials from launching or backing crypto assets during their tenure, but Democrats remain dissatisfied because the restrictions would expire in 2029, rely heavily on Justice Department enforcement, and do not explicitly cover officials’ children. The dispute matters because the Clarity Act is not merely a technical jurisdictional map; it would define how the world’s largest economy treats token issuance, exchange registration, automated-market-maker software, and market surveillance. Industry executives, banking representatives, and regulators have been meeting at the White House for more than a year to shape a framework that can survive both legislative scrutiny and legal challenge. President Trump has positioned himself as a crypto-friendly candidate and officeholder, drawing significant support from digital-asset entrepreneurs while also facing criticism over ventures such as the TRUMP meme token and World Liberty Financial. The White House has denied conflicts of interest. With the August recess approaching, the bill’s supporters are trying to force a clear recorded vote, while its critics are seeking enough procedural friction to run out the clock. If the measure stalls, the sector may enter another election cycle without the federal rules that both compliance teams and investors have repeatedly requested.
COINOTAG’s proprietary 42-indicator composite S/R scoring engine shows Bitcoin trading near $64,797, with the strongest support at $64,005 scored 80/100 from SMA 50 and Ichimoku Kijun confluence. The nearest major resistance, $66,956, rates 82/100 on EMA 100 and Fibo 0.382 signals. RSI at 52.69 is neutral, while MACD remains bearish. Derivatives positioning is mildly constructive: funding is 0.0045%, open interest is $12.77 billion, and the long/short account ratio is 1.34, though the Fear and Greed Index at 28/100 reflects bear-market-style caution. A hold above $64,005 keeps a move toward $65,316 alive, while losing that support would shift focus to $62,602 and invalidate the near-term bullish thesis.