Overview
- The White House agreed on ethics language on Tuesday and sent the package to Senate Republicans, a move that negotiators say could remove the single biggest barrier that stalled the bill.
- The CLARITY Act would split oversight of digital assets between the SEC for securities-like tokens and the CFTC for digital commodities, and it now needs about 60 votes in the Senate to clear a filibuster.
- Key policy disputes remain unresolved including how stablecoin yields would be treated and protections for DeFi developers under the Blockchain Regulatory Certainty Act, and those fights could still block final passage.
- Traders and prediction markets show a split outlook: some price a strong chance of a recorded Senate vote before the August recess while others put the odds of the bill becoming law this year well below 50 percent.
- If Congress finalizes the measure it would reduce litigation risk, shape which tokens fall under SEC or CFTC rules, and influence whether crypto firms and capital stay in the United States or move to other jurisdictions.