Senate Advances CLARITY Act to Establish Crypto Market Framework by September

The U.S. Senate is poised to release the draft of the CLARITY Act before its August recess, with a full vote expected by late September. Senators Tim Scott and Cynthia Lummis confirmed the timeline, positioning the bill as the cornerstone of federal digital asset regulation. The WHITE House has endorsed the effort, signaling bipartisan momentum for clear rules on trading, custody, and compliance.

Market participants anticipate the CLARITY Act will reduce regulatory ambiguity, potentially accelerating institutional adoption. The Senate Banking Committee's push aligns with the administration's goal to finalize crypto oversight before Q4. Meanwhile, lawmakers urged the House to pass the complementary GENIUS Act unchanged, underscoring the urgency for cohesive legislation.