Senate leaders said they will push to pass the Digital Asset Market Clarity (CLARITY) Act in July to avoid further scheduling bottlenecks.
The CLARITY Act, a bill intended to establish comprehensive guidelines for cryptocurrency regulation, faces a tight calendar as senators are on state work periods until July 13, leaving roughly four weeks to act before a monthlong August recess.
"We're finally to the point where we're going to put out the text over the July 4th and then we're moving in July," Senator Cynthia Lummis said in a Fox Business interview.
On Monday, Republican leaders including Senate Banking Committee chair Tim Scott and Majority Leader John Thune said they were pushing for a July floor vote.
The bill passed the House in July 2025 and cleared the Senate Agriculture Committee in January and the Senate Banking Committee in May, both along party lines.
President Donald Trump canceled a signing ceremony for a housing bill that included a ban on a central bank digital currency and said he will not sign other bills until Republicans pass the SAVE America Act, a stance that complicates CLARITY's path and raises the prospect of a presidential veto that Congress could override with two-thirds majorities in both chambers.
Republicans hold a slim Senate majority and would need some Democratic votes to pass CLARITY, with Democrats pressing for added ethics provisions and citing the Trump family's connections to crypto businesses.
Lawmakers return from state work periods on July 13, giving senators roughly four weeks to resolve outstanding issues before the August recess.
