Senate Confronted on CLARITY Act Hearing Deadline

The CLARITY Act Hearing has put pressure on the Senate to pass the bill before August recess. The hearing, which is scheduled for July 17 in New York, marks a key moment in the campaign to get the legislation passed.

The bill, known as H.R. 3633 or the Crypto Market Structure Bill, aims to clear up confusion around digital assets by sorting them into clear categories. This would mean that assets like Bitcoin fall under the authority of the CFTC, while those that behave more like investment contracts would be overseen by the SEC.

Senate Banking Chairman Tim Scott and Senator Thom Tillis have echoed the urgency to pass the bill quickly, stressing consumer protection alongside faster action. Industry figures, including Coinbase executives, have flagged steady bipartisan work behind the scenes, calling it a key moment for that campaign.