The CLARITY Act moves closer to a unified U.S. crypto framework, though Senate timing remains uncertain. The bill, already passed by the House and the Senate Banking Committee, could see a floor vote during the week of August 3rd. This legislation aims to clarify SEC and CFTC responsibilities, establish disclosure and certification standards for token issuers, and create a streamlined fundraising exemption for qualifying projects. Any procedural delay would postpone the 180-day implementation period and extend regulatory uncertainty for exchanges, issuers, and institutional investors. Senator Dave McCormick is urging Senate leadership to act, while New York Attorney General Letitia James warns against weakening state enforcement capabilities.
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