Lawmakers are still working toward passage of the Clarity Act this year despite Congress entering its summer break. Optimism remains among those following the process, though the timeline is narrowing before the midterm elections.
The bill was not signed into law on July 4, contrary to earlier hopes expressed by White House adviser Patrick Witt. Staffers from the Senate Agriculture and Banking committees continue to reconcile differing versions behind the scenes, even as members are out of session.
President Donald Trump reported $2 billion in income for 2025 in his annual disclosure, with about $1.4 billion tied to cryptocurrency activities. Senators Elizabeth Warren and Ruben Gallego have renewed calls for ethics provisions to limit officials from profiting from the sector.
A recent Supreme Court decision on agency independence has not altered the core talks, though Democrats continue to seek a bipartisan slate for the SEC and CFTC. The Senate is set to adjourn on Aug. 7, 2026, leaving limited time for debate and votes.
