U.S. Senate Moves Forward with Crypto CLARITY Act

Senator Cynthia Lummis announced that the CLARITY Act, the most significant cryptocurrency bill in Washington, has cleared the Senate Banking Committee and is heading for a floor vote. The bill, which would assign digital assets to either the SEC or the CFTC, aims to end years of regulatory uncertainty for the U.S. crypto industry. The House passed a companion version in July 2025, and the Senate vote could require a 60‑vote threshold.

Analysts, including Alex Thorn of Galaxy Research, have lowered the odds of passage in 2026 from 75% to 60% because of a crowded Senate schedule and unresolved issues such as stablecoin reward restrictions. Treasury Secretary Scott Bessent suggested a summer vote, while industry participants continue to view July 4 as a key deadline. If enacted, the CLARITY Act would create a clear federal framework for exchanges, token issuers, and investors, potentially reversing recent relocations of crypto operations to jurisdictions with more predictable rules.