The U.S. Senate could unveil a consolidated version of the CLARITY Act as early as the week of July 13, with a vote scheduled for July 20. The text, enriched by more than 70 pages compared to previous versions, must still overcome the obstacle of the 60 votes required. Will unresolved ethics questions be enough to derail this tight schedule?
In brief
- The Senate could release a consolidated version of the CLARITY Act as early as the week of July 13, ahead of a vote scheduled for July 20.
- The text requires 60 votes in the Senate; two Democrats threaten to withdraw their support as long as ethics rules remain unclear.
- The White House neither validated the merged text nor participated in the latest negotiations on the subject.
Four decisive weeks before the Senate recess
The Senate plans a vote on the CLARITY Act for July 20, after possible publication of the merged text as early as the week of July 13. This unique text, officially named the Digital Asset Market Clarity Act, combines the versions developed by the banking and agricultural commissions.
Furthermore, pressure from the industry is added to this tight schedule. At the beginning of July, more than 200 companies, including Coinbase and Ripple, had already asked Senate leaders to schedule a quick vote on the text before the summer break.
Republican leaders, such as Chairman of the Banking Committee Tim Scott and Majority Leader John Thune, are however coordinating their efforts to obtain this vote in July, as Bitcoin.com News reported. The Senate has only eight legislative days before the August recess, considered the real deadline.
Why are ethics rules still blocking the text?
A provision called for by Democrats would prohibit senior government officials, including the president, from having business ties with the crypto sector. The final text, however, has not yet decided on this point, with one avenue considered consisting of letting state attorneys general initiate proceedings in the event of a breach.
Two Democrats who supported the version voted on in the banking committee warned that they could withdraw their support as long as this aspect remains unclear. On the other hand, Senator Cynthia Lummis defends a text designed as a framework designed for consumers rather than a simple update of the 1933 laws.
It is a consumer-friendly disclosure framework for digital assets. Not an adaptation of 1933, but a setting designed for 2026 and beyond.
Lummis also responded to Senator Elizabeth Warren’s criticism of illicit financing, highlighting more than 16 safeguards built into the text. The White House, for its part, neither validated the merged version nor took part in the latest negotiations, and also noted the absence of Democratic candidates for the minority seats of the SEC and the CFTC.
The Senate must also deal with the question of federal preemption of state rules, still unresolved. Even if adopted, the House of Representatives will have to vote on its own version of the text before any transmission to President Trump, while internal tensions within the Republican camp are already complicating this passage.
Thus, Galaxy Research recently revised its forecasts, reducing the chances of a federal regulatory framework for digital assets to 50-50 by the end of the year. The July 13 to August 7 window remains, for now, the industry’s best chance to get legislation passed before the midterm elections.
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