Senate Sits on CLARITY Act as Crypto's Clock Ticks Down to Recess 🏛️

Senator Cynthia Lummis confirmed that the U.S. Senate still intends to hold a floor vote on the CLARITY Act before adjournment for the August recess, telling crypto journalist Eleanor Terrett that Majority Leader John Thune has reserved a place on the agenda for the bill. Lummis said lawmakers have "one more week here in Washington," with floor time competing against "multiple nominations," a continuing resolution discussion, and votes on Iran and Russia-Ukraine sanctions. She declined to specify timing, adding, "We will be proceeding, and I can't tell you whether it's going to be tomorrow, or Monday, or Tuesday," but stated, "Senator Thune has kept a place for the Clarity Act on the agenda before the August recess for many, many weeks now" and "I believe he does intend to go through with it."

The Senate placed the Digital Asset Market Clarity Act on hold July 28 to process 74 Trump nominations, according to a report from CoinGape, making a floor vote tight before the August 8 recess. House Financial Services Committee member Rep. Mike Haridopolos, who voted for the bill, reaffirmed support on Fox Business' Mornings with Maria, stating, "This is about making sure that American markets are the premier markets in the world," and warning that Democratic delays could push digital asset leadership overseas.

The CLARITY Act passed the House 294-134 in July 2025. The legislation aims to delineate jurisdiction between the Securities and Exchange Commission and the Commodity Futures Trading Commission over digital assets, while providing regulatory clarity for blockchain developers, exchanges, and investors. Coinbase, Ripple, BlackRock, and Charles Schwab back the bill, while New York Attorney General Letitia James has voiced opposition.

Grayscale Investments added industry pressure by sending a letter to Senate lawmakers urging a floor vote before the recess. Grayscale stated, "Senators and staff across the aisle have spent months addressing hard questions about jurisdiction, investor protections, and developer safeguards," and argued that "crypto firms, developers, and investors need predictable rules" amid what it described as uneven enforcement and shifting agency guidance. The company noted that its digital asset products are held by hundreds of thousands of Americans, giving it direct stake in the bill's outcome.