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>>Sen. Lummis says the CLARITY Act could be approved by the Senate before the August recess, though challenges remain.

Sen. Lummis says the CLARITY Act could be approved by the Senate before the August recess, though challenges remain.

crypthub

about 3 hours ago

Legislative Timeline

Senator Cynthia Lummis says the CLARITY Act could reach a full Senate vote by the August recess, with July 4 as an optimistic target and August 10 more realistic. The Senate’s tight calendar and ongoing negotiations may push the date later. Lummis remains cautiously optimistic despite these constraints.

Key Provisions and Challenges

The bill seeks to create a clear federal regulatory framework for digital assets and has cleared the Senate Banking Committee markup. It must be bundled with related Banking and Agriculture measures and incorporate amendments to the GENIUS Act. Major hurdles include ethics rules for officials and securing over 60 votes plus floor time amid a crowded agenda.

Implications for Crypto

Passage would clarify which agencies oversee cryptocurrencies, reducing the current regulatory patchwork and encouraging broader adoption. The industry still faces uncertainty until the bill clears the House and receives presidential signature. Stakeholders are watching closely for any compromises or delays.