Sen. Cynthia Lummis signaled the CLARITY Act crypto market structure bill will more likely reach a Senate floor vote before the August recess than by Jul. 4.
Key Points:
❯ Lummis said a floor vote stays possible before Jul. 4 but looks more likely ahead of the August recess. ❯ Negotiators must still merge the Banking and Agriculture bills, add ethics language, and adjust the GENIUS Act. ❯ A new developer-focused PAC and 160 former security officials lined up behind the bill.
Lummis Maps Out Vote Timeline
In a recent conversation with a crypto journalist, Lummis told supporters the timing for a floor vote remains uncertain, and a vote before the Jul. 4 recess is still possible. "I think it's possible, but maybe more likely we finish it before the August recess," she said.
The bill advanced onto the Senate Legislative Calendar this week, clearing a step that makes it eligible for floor consideration. Several pieces must still come together, as negotiators combine the Banking Committee measure with the Agriculture Committee's version, fold in ethics provisions, and adjust the GENIUS Act. Reaching the 60 votes needed for cloture could take longer than the Jul. 4 target.
The competition for floor time is fierce. The bill is jostling with budget reconciliation, surveillance reauthorization, and a House-passed housing measure. That crowded agenda leaves only a narrow runway before the summer break.
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Industry Rallies Behind The Bill
Outside support has built quickly. A new political action committee called Defend Developers launched on Wednesday, calling itself the first group focused solely on legal protections for blockchain developers and DeFi builders. Separately, 160 former national security, intelligence, and law enforcement officials signed a letter from the Blockchain Association that urged leaders to move it forward.
The stakes run high for US firms. The CLARITY Act would split oversight between the SEC and CFTC, drawing a long-sought line between which agency regulates digital assets. It would also treat Bitcoin (BTC) and Ether (ETH) as commodities rather than securities.
Analysts remain cautious on the calendar. Galaxy Research estimated the odds of passage this year at about 75%. A realistic signing looks closer to early August, leaving the White House's Jul. 4 goal ambitious.
Lummis has spent recent weeks pressing colleagues in public. She warned that other nations could set the global standard for digital assets if Washington fails to act. The Banking Committee approved the bill in a 15-9 vote in May, a bipartisan result that handed the effort fresh momentum into summer.
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