US Senate moves CLARITY Act toward passage, shaping digital asset regulation

The Digital Asset Market Clarity Act (H.R. 3633) has been placed on the U.S. Senate Legislative Calendar, positioning it for a floor vote before the July recess. The bill, which seeks to define regulatory authority for digital assets among agencies such as the SEC and CFTC, now awaits Senate leadership to set debate and voting timing. It requires a 60‑vote threshold to pass and will then move to the House of Representatives.

Key supporters include Senate Banking Committee Chairman Tim Scott and Senator Cynthia Lummis, who argue the legislation will protect consumers, keep innovation in the United States, and bolster national security. Industry figures such as Coinbase’s chief legal officer and Gemini have welcomed the progress, while banking groups like JPMorgan have voiced opposition, citing concerns over deposit interest rules and anti‑money‑laundering safeguards.