Authored by Micah Zimmerman via BitcoinMagazine.com,The Senate returns to Washington on July 13, with the clock running down on the most consequential piece of crypto legislation in years. Lawmakers now have roughly four weeks to schedule, debate, and pass the CLARITY Act before the August recess. President Trump weighed in directly on Monday, posting on Truth Social that “in honor of Senator Lindsey Graham, a big supporter, the U.S. Senate should pass the Clarity Act” and warning that China and other countries “would like to take complete and total control of this major financial ‘happening,'” as well as A.I. White House crypto adviser Patrick Witt amplified the urgency, noting the critical week coincides with the one-year anniversary of the GENIUS Act and cautioning, “We cannot afford to delay any longer.”This is a window many policy watchers see as the last realistic chance to enact comprehensive digital-asset market structure legislation this Congress.The CLARITY Act would draw a firm regulatory line between the SEC and the CFTC, granting the commodities regulator exclusive jurisdiction over spot markets for “digital commodities” while leaving the SEC to oversee investment-contract assets. It cleared the House in July 2025 by a bipartisan 294–134 vote and advanced out of the Senate Banking Committee in May by a 15-9 margin, with two Democrats joining all Republicans. Those committee votes, however, came with warnings that floor support was not guaranteed.This week’s milestone is the release of updated text merging the Senate Banking and Agriculture Committee versions, the clearest signal yet of what survived negotiations and what remains unsettled. JUST IN: 🇺🇸 President Trump says "The U.S. Senate should pass the Clarity Act." 🚀 pic.twitter.com/9Y7VxKZ3ck