CLARITY Act News: July Goal Missed, But August Deadline Keeps Crypto Bill Alive

The CLARITY Act wasn’t signed into law by July 4 as White House adviser Patrick Witt had hoped earlier this year. Still, the bill isn’t off the table. However, people closely following the negotiations say there’s still a realistic chance it could become law before Congress breaks for the summer.

The next major date to watch is August 7, the Senate’s final working day before lawmakers leave Washington and fully shift their focus to the midterm election campaign.

Senate Talks Continue Behind Closed Doors

Even though Congress isn’t spending much time in session this summer, negotiations are still moving forward.

According to people familiar with the process, Senate staff are working to merge the different versions of the CLARITY Act passed by the Senate Banking Committee and the Senate Agriculture Committee. Once that work is complete, lawmakers would only need a few days to debate the bill, invoke cloture, and hold a final vote.

If it clears the Senate, the bill would head back to the House before landing on President Donald Trump’s desk.

Trump’s Crypto Wealth Sparks Fresh Debate

The negotiations also gained political attention after Trump released his 2025 financial disclosure.

The filing revealed he earned around $2 billion last year, with nearly $1.4 billion coming from crypto-related businesses, including the TRUMP memecoin and World Liberty Financial. He also disclosed holding more than $100 million worth of cryptocurrencies.

The disclosure quickly reignited calls for stronger ethics rules.

Senator Elizabeth Warren said the CLARITY Act should prevent senior government officials and their families from profiting from the crypto industry while shaping its regulations. 

Senator Ruben Gallego also repeated that he wants enforceable ethics provisions before supporting the bill on the Senate floor.

House Delays Add More Pressure

The Senate isn’t the only concern.

Recent reports suggest the House has struggled to move several important bills, raising questions about whether it can quickly approve the CLARITY Act once it returns from the Senate.

At the same time, House Republicans are growing frustrated over other stalled legislation. Representative James Comer recently urged Senate Majority Leader John Thune to stop delaying the SAVE America Act, warning that delaying the bill risks missing the deadline, leaving election rules unchanged for this election cycle.

“We’ve passed the SAVE America Act in the House, and it’s collecting DUST in the Senate. The clock is ticking. It needs to pass in the next few weeks in order for that to take effect for this election this November” James Comer said.