Supporters of the Digital Asset Market CLARITY Act are intensifying efforts to secure a Senate floor vote before lawmakers depart for their August recess. The legislation would divide oversight of digital assets between the SEC and CFTC.
A coalition of more than 200 companies and groups, including Coinbase, Ripple, Kraken, Circle, Binance.US and Andreessen Horowitz, sent a letter to Senate Majority Leader John Thune and Senate Minority Leader Chuck Schumer urging a vote. Ripple deployed a branded “Clarity Truck” in Washington this week to promote the bill.
The Senate Banking Committee advanced a revised version of the measure 15-9 on May 14. The House had passed its version, H.R. 3633, by a 294-134 vote on July 17, 2025. The Senate proposal assigns securities-related offerings to the SEC and spot digital-commodity markets to the CFTC.
Negotiations remain stalled over Section 604, which would shield noncustodial software developers from money-transmitter rules. The Alliance to End Human Trafficking and four law-enforcement organizations have warned the language could weaken accountability, while industry representatives say it aligns with existing Bank Secrecy Act guidance.
Additional disputes involve ethics restrictions on officials and their families. Lawmakers return from recess July 13 and face an August 7 deadline before the state work period begins.
