Senator Cynthia Lummis unveiled a revised draft of the Digital Asset Market Clarity Act on July 22, 2026, but chances of passage before the August recess are fading. Senate Majority Leader John Thune expressed skepticism about the possibility of acting within the remaining ten days. The CLARITY Act, formally designated H.R. 3633, would divide oversight of digital assets between the SEC and CFTC, and prohibit federal officials, including the president, from issuing or sponsoring digital assets. Senator Lummis warned that failure could push comprehensive digital asset legislation into the 2030s.
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