Tyler Williams, Treasury's top digital assets adviser, left as the Senate recess approaches with no vote on the CLARITY Act. Galaxy Research cut its odds to 30%.
Tyler Williams, the top digital assets adviser to Treasury Secretary Scott Bessent, has left the federal government. His last day was Friday, Punhcbowl News reported, and he is expected to return to the private sector.
Williams' departure comes as the Senate's August recess approaches with no floor vote on the CLARITY Act, the crypto industry's signature bill. The Senate has roughly five working days starting Monday to act before recess begins August 10.
Bessent appointed Williams in February 2025. Before that, Williams served as Global Head of Policy and Regulatory Counsel at Galaxy Digital. He previously worked as a Treasury Deputy Assistant Secretary from 2018 to 2020. As Counselor to the Secretary for Digital Assets, he helped write the White House's 163-page digital assets report, worked on the CLARITY Act, and participated in discussions about a federal Bitcoin reserve. In April 2026, he announced a Treasury initiative to share cybersecurity information with digital asset firms.
Eleanor Terrett, a crypto policy reporter, posted on social media that it “feels like crypto’s allies are leaving Washington en masse,” citing the departures of SEC Commissioner Hester Peirce, Senator Cynthia Lummis, and Williams.
The CLARITY Act would split oversight of digital assets between the SEC and the CFTC and protect blockchain developers from liability for how third parties use their code. The House passed the bill. In the Senate, seven Democrats have blocked it over ethics and security concerns. Senator Elizabeth Warren called the bill “dead on arrival.” Senate Majority Leader John Thune said he wants a floor vote but has not confirmed a path forward. As of Monday, the bill was not on the Senate's floor schedule.
Galaxy Research cut its estimated odds of the CLARITY Act becoming law in 2026 from 50% to 30%. Polymarket odds have fallen from above 80% in February to roughly 30%.
A coalition that includes BlackRock, Fidelity, and Goldman Sachs is urging passage. Coinbase's chief policy officer Faryar Shirzad argued on The Hill's Rising show that younger Democrats understand the technology and the bill “should be good to go.”
The bill's failure would likely trigger a negative reaction in digital asset markets, though policy support from agencies might continue. For firms like BlackRock (Alpha Score 67), Goldman Sachs (58), and Coinbase (25), the outcome carries direct regulatory implications. The Senate has until August 10 to act. CLARITY Act odds sank to 27% after Senate delays earlier this week.
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