Senator Cynthia Lummis wants the US to win the digital asset race, and she’s betting on one specific piece of legislation to get there. The CLARITY Act, which already cleared the House with a comfortable bipartisan majority of 294-134, is now sitting in the Senate with a ticking clock.
Lummis, who chairs the Senate Banking Subcommittee on Digital Assets, is pushing hard for a full Senate vote before the August 2026 recess. Her argument is straightforward: America has historically led every major technological revolution, and letting regulatory ambiguity chase crypto innovation overseas would be an unforced error of historic proportions.
What the CLARITY Act actually does
The CLARITY Act, formally known as the Digital Asset Market Clarity Act (H.R. 3633), draws explicit lines between digital commodities and securities. The CFTC gets jurisdiction over one category, the SEC over the other, and the industry finally gets to stop guessing which regulator is going to come knocking.
Representative French Hill introduced the bill on May 29, 2025, and it moved through the House with surprising speed. The Senate Banking Committee advanced its own version in May 2026 with a 15-9 vote, setting the stage for what Lummis hopes will be a floor vote within months.
