CFTC Chairman Michael Selig urged Congress to pass the Clarity Act before the August recess, saying the crypto market-structure bill is "so close" despite ongoing disputes over ethics and stablecoin provisions.

All parties are still optimistic that Clarity can happen before the midterms, but time is really starting to run out.

Crypto policy advocates are urging constituents to contact U.S. senators before Aug. 7, warning that the CLARITY Act has little time to advance once