Insiders indicate that a fresh version of the crypto market structure bill could be released soon, aiming for action in late July, although bipartisan support is still lacking.
By Jesse Hamilton, Nikhilesh De|Edited by Aoyon AshrafUpdated Jul 9, 2026, 7:54 p.m. Published Jul 9, 2026, 7:34 p.m. 4 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on U.S. Capitol Building (Jesse Hamilton/CoinDesk)SummaryShow- A new version of the Clarity Act could be introduced next week, according to sources familiar with the developments.
- This version will merge the Senate Banking and Agriculture Committees' proposals, but key issues remain unresolved, including ethics concerns raised by Senate Democrats.
- Democratic support is crucial for the draft, which requires 60 votes to pass in the Senate.
The legislation intended to regulate the cryptocurrency sector is making tentative progress, with reports suggesting that a revised draft could be available as early as next week, hoping for Senate action later this month.
The Digital Asset Market Clarity Act has only a few weeks left to move forward in the Senate before the congressional calendar and political dynamics make its chances nearly impossible, but sources involved in the negotiations report some progress, including a new text resulting from the consolidation of the two Senate committees: Banking and Agriculture.
Nevertheless, legislative aides indicated that the necessary Democratic support has not been secured, even though the latest draft addresses many of their concerns.
The combined Clarity Act is said to have added over 70 pages of text, but it still has not resolved a critical issue: a proposed limitation that would prevent high-ranking government officials, including the president, from having business relationships with the crypto industry. Without a resolution on these ethical restrictions, several lawmakers have indicated they will not support the final bill.
Discussions have introduced specific proposals, such as allowing state attorneys general to take legal action for ethical breaches. However, according to insiders, progress has significantly slowed.
The expected text to be released next week will not merely be a straightforward merging of the two bills previously approved by the committees; both groups negotiated outstanding issues, with a greater focus on consumer protection emerging from the Agriculture Committee's discussions.
Advocates of the bill anticipate it could be brought to the Senate floor during the week of July 20, though substantial work remains to be done.
In addition to ethics, other unresolved matters include federal preemption, and negotiators still need to finalize appointments for the Securities and Exchange Commission and Commodity Futures Trading Commission. Earlier, the White House sent a letter to Senators John Thune and Chuck Schumer, the Senate's majority and minority leaders, respectively, stating that Democrats had not proposed any candidates for these positions.
A letter from Democratic senators last month had criticized Trump and Majority Leader John Thune for not engaging with Senate Democrats to identify nominees for vacancies on independent agencies, implying that the White House is leaving these important roles unfilled indefinitely.
To clear the 60-vote threshold in the Senate, the Clarity Act will require substantial Democratic backing. Currently, even the two Democrats who supported advancing the Banking Committee's version have warned they may not approve the final draft if their concerns, particularly regarding ethics, are not addressed. The merged text has not yet received the White House's endorsement, nor has it been involved in the latest discussions.
However, a glimmer of hope appeared in a letter from Senator Ron Wyden to Senate leadership, expressing support for how the earlier legislation addressed legal protections for developers. Specifically, this pertains to the Blockchain Regulatory Certainty Act, which aims to ensure that crypto developers are not classified under federal regulations as money transmitters unless they handle customer assets. The decentralized finance (DeFi) sector has prioritized preserving the BRCA in the Clarity negotiations.
While some insiders from the crypto industry in Washington have begun to express doubts about the Clarity Act's future, the initiative has not yet reached its critical deadline for completion before the summer recess and the shift in focus to the upcoming midterm elections.
The Senate calendar allows for three weeks in July and the first week of August, but the process to advance the legislation could consume several days, leaving limited time for a 2026 launch. There are also concerns that a defense spending bill may further complicate the Senate's capacity to address this issue.
Additionally, the U.S. House of Representatives would need to approve the Senate's version of the Clarity Act before it can become law, which would require action from a House that has been nearly stalled due to Republican conflicts. Afterward, it would need President Donald Trump’s signature to be enacted, although he has previously declined to sign another key piece of legislation — the Senate's bipartisan housing bill — insisting on prioritizing his demands for new voting regulations.
UPDATE (July 9, 2026, 19:53 UTC): Adds details of the anticipated Clarity Act draft.
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