Earn up to 50% APR
Boost earnings with NFTs
Play, HODL & earn more
The CLARITY Act Could Pass Within Weeks — Here's Where Things Stand
-
The US crypto market structure bill is entering what may be its most decisive legislative stretch, with multiple indicators suggesting passage could come within weeks rather than months. Coinbase's US policy vice president Kara Calvert said Thursday that the exchange expects a markup in the Senate Banking Committee as early as next week, a significant milestone after months of delays. Last week, senators announced a compromise deal on stablecoin yield between crypto and banking industry representatives that cleared one of the bill's most contested outstanding issues and gave the CLARITY Act renewed momentum. White House crypto adviser Patrick Witt has stated the administration is targeting July 4 as a deadline for the bill to pass the House following a June Senate vote, while other lawmakers have predicted it will become law before the Senate breaks for August recess. The convergence of these timelines suggests genuine urgency from both the executive branch and key Senate allies that was largely absent earlier in the year.
Significant obstacles remain despite the momentum.Some lawmakers including Senator Kirsten Gillibrand have indicated they intend to push for ethics language addressing potential conflicts of interest — a provision that has complicated negotiations given the Trump family's extensive crypto business interests through the USD1 stablecoin and World Liberty Financial. The Senate Banking Committee postponed its markup earlier this year after Coinbase CEO Brian Armstrong publicly stated the exchange could not support the legislation as written, citing concerns about tokenized equities — a reminder that industry opposition can still derail the timeline if key provisions are not resolved to major exchanges' satisfaction. The CFTC and SEC have already announced plans to coordinate crypto oversight even without congressional action, signaling that regulators are prepared to move forward regardless of whether legislation passes. But a clear statutory framework would provide significantly more legal certainty for the industry than regulatory coordination alone, making the next several weeks of Senate activity among the most consequential for US crypto policy in years.
