Overview
- Negotiators say the CLARITY Act is in final-stage talks and that ethics and conflict-of-interest provisions are the principal sticking point holding up a Senate floor vote.
- The bill would split oversight between the SEC for investment-contract assets and the CFTC for sufficiently decentralized network tokens and would create safe harbors for noncustodial DeFi developers and node operators.
- Supporters report the legislation includes new enforcement and anti-money‑laundering tools, a reported $150 million for crypto crime work, and temporary transaction-freeze authority for suspicious activity.
- In mid-June negotiators held last-minute meetings to reconcile competing Senate drafts and Agriculture and Banking committee text as leaders race to assemble roughly 60 votes before the August recess.
- If the pre-recess window closes, passage could slip into the next congressional term and prolong legal uncertainty for exchanges, token issuers, DeFi developers, and investors while agencies prepare rulemaking.