The CLARITY Act, a proposed US law aimed at providing clearer regulatory guidelines for digital assets, may pass the Senate by August recess according to Senator Cynthia Lummis.
Lummis, a leading advocate for cryptocurrency policy in Congress, expressed cautious optimism about the bill's prospects despite complex negotiations and a packed legislative calendar. The bill has already cleared the Senate Banking Committee's markup stage, a significant procedural step.
However, the path to a full Senate vote involves resolving ethics provisions and securing floor time, which may delay its arrival on the Senate floor. Lummis acknowledged that the need for bipartisan support in a chamber where procedural obstacles are common adds further complexity.