House CLARITY Act Hearing Sets Stage for Senate Crypto Vote

The House Financial Services Committee will hold a field hearing in New York on the CLARITY Act, the U.S. Digital Asset Market Clarity Act, at 10:00 a.m. ET.

The bill passed the House last year and now awaits a Senate vote. Industry leaders expect an updated Senate text next week, according to people familiar with the process. That text could open a Senate floor appearance as early as July 20. The bill requires 60 votes to advance.

According to the source, statements from Senate Banking Committee Chairman Tim Scott and Senate Majority Leader Chuck Schumer could signal the bill's path forward. The hearing is part of a legislative push before the August recess.