US Senate Advances Toward Final Text of Crypto CLARITY Act

The U.S. Senate is expected to release the final text of the Digital Asset Market Clarity Act (CLARITY Act) this weekend, marking the next major step after Congress returns from its July recess. Senators have indicated that a floor vote could occur in the weeks following the July 13 return, with the bill requiring at least 60 votes to pass; Republicans hold 53 seats, so support from at least seven Democratic senators is needed. Committee supporters include Democrats Angela Alsobrooks and Ruben Gallego, though they have cautioned that their committee votes are not guarantees of final backing. Senate leaders such as Bill Hagerty and Tim Scott have emphasized the need for clear, predictable regulations to foster innovation and consumer protection. The National Organization of Black Law Enforcement Executives has publicly endorsed the legislation, while law‑enforcement groups raise concerns over certain enforcement provisions. Bloomberg Intelligence estimates a 60 % chance of passage this month, though prediction‑market odds have fallen to about 43 %. The act aims to define a federal framework for digital assets, clarifying the roles of the SEC and CFTC, and setting rules for exchanges, brokers, stablecoins, and DeFi protocols. French coverage notes that the bill cleared the House in July 2025, has faced Senate delays, and faces ethical hurdles tied to crypto‑related conflicts of interest, with a critical vote window around July 24 before the 2026 midterm elections.