Key Takeaways
A merged CLARITY Act draft combining the Senate Banking and Agriculture committee texts could be released as soon as next week, CoinDesk reported July 9, with one person saying more than 70 pages have been added.
The biggest unresolved fight is an ethics provision Democrats want, restricting senior government officials, including the president, from business ties to the crypto sector.
Advocates are eyeing Senate floor action as soon as the week of July 20, with roughly four working weeks left before the summer break closes the bill's 2026 window.
A new version of the Digital Asset Market Clarity Act could drop as soon as next week, according to a July 9 CoinDesk report citing people following the negotiations. The draft merges the versions passed by the Senate Banking and Agriculture Committees into a single text, and one person briefed on it said more than 70 pages have been added, with new emphasis on consumer protections.
The bill's advocates want it on the Senate floor as soon as the week of July 20. The calendar is the hard constraint here, with three working weeks left in July, one in August, and a possible defense spending bill competing for time.
The unresolved fight is ethics. Democrats want senior government officials, including the president, barred from maintaining business ties with the crypto sector, and several have said they will not vote yes without it. One idea raised in the talks would let state attorneys general sue over violations. The bill needs 60 votes, and even the two Democrats who advanced the Banking Committee version have warned they may not support a final text that skips their concerns.
Other fronts remain open too, including federal preemption and empty seats at the SEC and CFTC. The White House wrote to Senate leaders Thursday saying Democrats had not put forward nominees, while a June letter from Democratic senators said the White House refuses to engage on filling them. One real bright spot came Wednesday, when Senator Ron Wyden backed the bill's developer protections, the DeFi sector's top ask.
The legislation already missed the White House's July 4 signing goal, and the SEC has its own Regulation Crypto proposal slated for this month whether or not Congress acts. Worth watching.
People Also Ask
What is the CLARITY Act?
The Digital Asset Market Clarity Act is the Senate bill that would set market structure rules for crypto in the US, deciding which assets fall under the SEC versus the CFTC and how exchanges register.
What is new in the merged CLARITY Act draft?
It combines the Senate Banking and Agriculture Committee versions into one text, adds more than 70 pages per a person briefed on it, and puts more weight on consumer protections.
Why are Senate Democrats holding up the CLARITY Act?
They want an ethics provision restricting senior officials, including the president, from crypto business ties, plus answers on law enforcement tools and unfilled SEC and CFTC seats.
When will the Senate vote on the CLARITY Act?
Advocates are targeting floor action as soon as the week of July 20, 2026. The Senate has about four working weeks left before its summer break effectively ends the bill's 2026 chances.