US Senate advances CLARITY Act amid 60‑vote hurdle and ethics dispute

Senators are preparing a merged version of the Digital Asset Market Clarity (CLARITY) Act, adding more than 70 pages of new language and placing stronger emphasis on consumer protections. The draft is expected to be released next week, with a floor vote targeted for the week of July 20, before the Senate’s August 7 recess. Passage requires a 60‑vote supermajority, making Democratic support critical. Lawmakers remain divided over a Democratic‑backed ethics provision that would bar senior government officials, including the president, from holding commercial interests in the cryptocurrency sector. The provision is the main obstacle to securing the necessary votes.

The bill aims to allocate regulatory authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission, clarifying rules for memecoins, exchange‑linked investments and pooled investment structures. Industry lobbying has intensified, with a reported $189 million crypto‑political spending campaign ahead of the 2026 midterms. CFTC Chair Michael S. Selig warned that delays could force regulators to draft the rules themselves, while the SEC plans to propose three separate crypto‑related rulemaking packages by July. The outcome will shape the United States’ regulatory framework for digital assets and impact market certainty for investors and platforms.