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CLARITY Act: Senate Has Four Weeks to Pass Before Recess
Senate Republicans have four weeks before recess to pass the CLARITY Act, with NDAA scheduling and filibuster math as the biggest hurdles. Galaxy Research now puts 2025 passage odds at 50%.
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Senate Republicans have four weeks to pass the Digital Asset Market Clarity (CLARITY) Act before the August recess, a timeline that will decide whether the long-sought market structure rules have a real chance this year. The bill would split oversight of digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), a division the industry has wanted for years.
Senate Banking Committee Chairman Tim Scott (R-SC) and Majority Leader John Thune (R-SD) are pushing for floor time in July, according to multiple people familiar with the planning. The window runs from July 13 to Aug. 7. Thune also wants the week of July 13 for the National Defense Authorization Act, the must-pass defense bill, which could push CLARITY consideration to late July or early August.
Senator Cynthia Lummis (R-WY), a lead sponsor, has framed the bill as a consumer protection measure.
“When the Clarity Act becomes law, for the first time, there will be a consumer-friendly disclosure framework for digital assets. Not retrofitted from 1933. Built for 2026 and beyond.”
Lummis has also argued the bill protects developers from legal uncertainty. Coders should not need an army of lawyers to know whether their code is legal, she said. The CLARITY Act ends that ambiguity.