House Financial Services Chair Optimistic Crypto Bill Will Pass Senate

U.S. crypto market rules straddle the Securities and Exchange Commission and the Commodity Futures Trading Commission, putting four congressional committees at the center of legislation. If the Digital Asset Market Clarity Act dies in the current Congress, lawmakers would have to restart in January 2027. Committee control would then determine whether market-structure legislation remains a priority and how aggressively Congress scrutinizes President Donald Trump’s digital-asset businesses and potential conflicts of interest.

As of Aug. 11, 2026, the Clarity Act had not received a Senate floor vote, leaving September as its brief remaining window. Kalshi put Democrats’ chances of winning the House at 84% and the Senate at 47%. A House flip could return Maxine Waters to the Financial Services Committee chair and elevate Shontel Brown at Agriculture; a Senate takeover could put Elizabeth Warren atop Banking. All three have opposed major crypto bills, while Stand With Crypto gives each a failing grade.

The U.S. Congress is considering the CLARITY Act, a crypto market structure bill that would divide regulatory authority over digital assets between the SEC and CFTC. The measure is seen as a cornerstone of a comprehensive U.S. crypto regulatory framework. Congress must vote before its August recess or face a significant delay, making the next few weeks a decisive window for the bill and a focus for markets and the industry.

In the latest development, three Democratic senators publicly opposed the CLARITY Act on ethics grounds, questioning whether public officials could profit from their own crypto holdings. With a vote expected in the coming days, the opposition has become the biggest uncertainty hanging over the bill’s passage. Despite continued lobbying by the banking industry, Congress currently has no plans to reopen negotiations on restrictions on stablecoin yields, leaving the relevant provisions likely to remain unchanged in the near term.

The US Congress is advancing the CLARITY Act, which seeks to define the respective authority of the Securities and Exchange Commission and the Commodity Futures Trading Commission over digital assets. The bill has implications for trading platforms, stablecoins and developer liability, but the Senate Banking Committee must first resolve regulatory disagreements before sending it to the full Senate for a vote.

Senators filed more than 100 amendments ahead of the committee's May 14 markup. Democratic Senator Elizabeth Warren submitted more than 40 proposals covering stablecoin yield, protections for software developers and ethics rules for public officials, including provisions targeting Trump. Committee Chairman Tim Scott declined to hold a separate vote on a banking industry-backed proposal to restrict yield.

The CLARITY Act being advanced by the US Congress is intended to divide oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. The legislation will shape whether cryptocurrencies are classified as securities or commodities and affect compliance costs for trading platforms, issuers and stablecoin operators.

As of July 19, 2026, the Senate Banking Committee had released the bill text ahead of a hearing. Republican Senator Tim Scott said negotiations were making progress and that a compromise proposal on stablecoin yield was expected this week. The SEC also issued its first guidance on determining when crypto assets are securities, while Chair Paul Atkins said stablecoin legislation was “99% there.”

The U.S. Digital Asset Market Clarity Act, or CLARITY Act, seeks to divide regulatory responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission, addressing a legal gap over whether crypto assets are securities or commodities. The House passed the bill by 294–134 on July 17, 2025. Its fate will shape compliance strategies for trading platforms, banks and institutional investors.

On March 18, 2026, Wyoming Senator Cynthia Lummis told the DC Blockchain Summit that negotiators were close to a compromise over stablecoin yield and rewards and expected to finalize it within days. She said DeFi issues had also been largely resolved. The Senate Banking Committee plans to consider the measure in April after the Easter recess. Its version must still be reconciled with a text advanced by the Agriculture Committee in January before going to the full Senate for a vote.