A top Republican is pushing the Senate to vote on CLARITY before August

Hill sets an August deadline

Rep. French Hill (@RepFrenchHill), chairman of the House Financial Services Committee, is turning up the pressure on Senate leadership to bring the Digital Asset Market Clarity (CLARITY) Act to a full floor vote before Congress breaks for its August recess. Speaking on Fox Business, Hill argued that putting a hard date on the calendar is the only reliable way to force the remaining negotiations to a close.

He said he has encouraged Senate leadership to schedule a floor date in July, reasoning that a firm deadline would compel the final rounds of discussion needed to resolve outstanding disputes. To build public and industry support for the legislation, Hill confirmed that his committee will hold a field hearing in New York next week, led by Subcommittee Chairman Rep. Bryan Steil (R-WI).

Hill also addressed concerns about ethics and potential conflicts of interest linked to crypto investments, including meme coin issuance, exchange stakes, and co-investment arrangements. His position is that a regulated market framework is itself the answer: bringing those activities under transparent, enforceable rules is preferable to leaving them in a legal gray zone.

A long road, and tightening odds

The CLARITY Act, formally H.R. 3633, was introduced by Hill in May 2025 and passed the House with a bipartisan vote of 294 to 134 in July 2025. The Senate Banking Committee advanced its own version of the bill by a 15-9 vote on May 14, 2026, with two Democrats, Sens. Ruben Gallego and Angela Alsobrooks, crossing the aisle to support it. The bill was placed on the Senate Legislative Calendar on June 1, 2026.

What remains is the harder part. The bill still needs 60 votes to clear the full Senate floor, meaning roughly seven Democrats would need to cross over. Reconciliation with the Senate Agriculture Committee text and a merge with the House version add further steps before any presidential signature.

Sticking points include an ethics provision addressing government officials' ties to the crypto industry, and developer protections drawn from the Blockchain Regulatory Certainty Act that law enforcement groups argue would make it harder to prosecute crypto-related crime.

Prediction market Polymarket currently prices 2026 passage at around 40% to 46%, down from 74% roughly a month ago, reflecting the narrowing legislative window ahead of recess. Senator Cynthia Lummis has warned that missing this window could push meaningful market structure legislation to 2030.

Sources:
Crypto Briefing: Lawmakers race to pass CLARITY Act before congressional deadline
CNBC: Crypto industry scores win as CLARITY Act clears Senate committee
Polymarket: CLARITY Act signed into law in 2026 odds