CLARITY Act Fate Hangs in Balance as Senate Approaches Crucial Vote

Sen. Cynthia Lummis has warned that if the CLARITY Act fails to pass in the current Congress, the next realistic opportunity to advance crypto market-structure legislation won't arrive until 2030. The Senate faces a procedural vote on September 15th, but unresolved ethics, law-enforcement and market-integrity provisions make final passage before the November midterm elections uncertain.

The CLARITY Act aims to establish criteria for distinguishing digital assets as securities versus commodities and clarify which regulator oversees which market. Lummis emphasized that completing the bill now would help the country avoid wasting years of opportunity in jobs, investment, and tax revenue.