The US Senate has roughly 24 hours to pass the CLARITY Act (H.R. 3633) before the summer recess scheduled to begin August 8-10. The bill establishes a clear jurisdictional boundary between the SEC and the CFTC over digital assets, granting the CFTC oversight of digital commodities and the SEC authority over investment contracts. The House passed the bill on July 17, 2025, with a 294-134 vote, followed by Senate Banking Committee approval on May 14, 2026, in a 15-9 vote. The main obstacle remains the 60-vote threshold in the Senate, where Republicans hold only 53 seats, requiring at least seven Democratic votes. Over 200 crypto firms and organizations, including Coinbase, have publicly urged the Senate to act swiftly.
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