Clarity Act Deadline Looms as US Lawmakers Scramble for Crypto Regulation

US lawmakers are racing against time to pass the Clarity Act, which aims to create a regulatory framework for the cryptocurrency market. The bill has been stuck in limbo since 2026 due to disagreements between Republicans and Democrats over its wording.

Speaking to Fox News on Tuesday, Senator Bill Hagerty expressed his concerns that the US is falling behind other countries in digital asset regulation. 'We're going to have to pass the Clarity Act,' he said. 'There's no way we can allow the US to fall behind in the digital assets arena.'

Hagerty's comments came as Republican majority leader John Thune told reporters that the bill would likely get an initial vote this week despite lawmakers being busy with other legislation. The Clarity Act has garnered support from major financial institutions, lawmakers, and companies, but some Democrats have expressed concerns over its wording.