Congress has spent years arguing about who gets to regulate crypto. Now the Senate has roughly 24 hours to actually do something about it.
The Digital Asset Market Clarity Act, better known as the CLARITY Act, is sitting on the Senate floor as lawmakers prepare to leave Washington for summer recess. Senate Majority Leader John Thune has signaled an anticipated vote, and Senator Cynthia Lummis has said she’s willing to keep the chamber working through the weekend to get it done.
What the bill actually does
The bill, formally H.R. 3633, draws a clear jurisdictional boundary between the SEC and the CFTC. The Commodity Futures Trading Commission gets oversight of digital commodities. The Securities and Exchange Commission retains authority over investment contracts.
The updated Senate text, released on July 22, 2026, merged contributions from multiple committees and added provisions around ancillary assets and intermediaries, broadening the bill’s scope from its original House version.
