McHenry: CLARITY Act Passage Is 'When, Not If'

Patrick McHenry, former chairman of the House Financial Services Committee, believes that the passage of the CLARITY Act is 'a question of when, not if'.

This optimism comes after the Senate Banking Committee advanced the Digital Asset Market CLARITY Act by a bipartisan 15-9 vote on May 14. However, the bill has stalled due to unresolved disputes over government ethics provisions and how stablecoin yield should be treated under the new framework.

McHenry, who helped shepherd the bill through the House in 2025, compared the CLARITY Act to the Telecommunications Act of 1996, which set the ground rules for the internet era. He argued that the framework in the CLARITY Act can ensure entrepreneurs feel confident in creating jobs and building businesses without fear of arbitrary or unexplained crackdowns.

Senate Majority Leader John Thune said this week that the bill is likely to miss its window before Congress's August recess, though he told reporters he'd still like to 'at least get Clarity started' on the floor before lawmakers leave town. Grassroots pressure has kept pace with the delays as the advocacy group Stand With Crypto logged 950,000 contacts to lawmakers pushing for a vote.

McHenry isn't the only prominent voice betting on eventual passage - Treasury Secretary Scott Bessent described the bill's progress as being at the 'one-yard line' less than 72 hours ago. The test of McHenry's 'when, not if' posturing will now be if Thune finds floor time before the recess or punts the bill into September.