Senator Cynthia Lummis (@SenLummis) confirms Clarity ACT bill text will be introduced in the next few days.

Lummis Signals Imminent Release of CLARITY Act Senate Text

Senator Cynthia Lummis (@SenLummis), the Wyoming Republican who chairs the Senate Banking Subcommittee on Digital Assets, has confirmed that the full Senate bill text for the Digital Asset Market Clarity Act (CLARITY Act) will be introduced within the next few days. The announcement marks a critical step in what has become the most consequential crypto regulatory push in US congressional history.

The bill targets three core priorities: strengthening law enforcement's ability to combat illicit finance, introducing formal consumer protections for digital asset holders, and ensuring that crypto markets remain domiciled in the United States rather than moving offshore to more permissive jurisdictions.

A Bill With Momentum, and a Tight Window

The CLARITY Act has already cleared significant legislative hurdles. The legislation passed the House in July 2025 with a 294-134 bipartisan vote before the Senate Banking Committee advanced it 15-9 in May 2026. The legislation would divide oversight of digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), providing clearer rules for the industry.

Senate staff are expected to release a unified draft of the Digital Asset Market Clarity Act during the week of July 13, merging months of parallel work by the Banking and Agriculture Committees into a single text reportedly more than 70 pages longer than either predecessor. Floor action is targeted for the week of July 20, before the Senate leaves for its August recess on the 7th.

On the enforcement side, the bill goes further than broad statements of intent. Lummis points to more than 16 illicit finance safeguards in the text and $150 million in dedicated enforcement funding, including new sanctions authority aimed at Iran and explicit powers for exchanges to freeze illicit funds. The bill also includes provisions for consumer disclosures and market surveillance, which supporters argue will bring the crypto market closer to the standards expected in traditional finance.

The stakes of inaction are not being understated. Lummis has stated that this is likely the last chance to get real digital asset legislation on the books before 2030, and that failure means another country writes the rules while America spends a decade catching up. Galaxy Research has put 2026 passage odds at roughly 50-50, while Polymarket traders have priced 2026 passage near 48%, down from 74% a month ago.

The bill still faces hurdles. It needs July floor time and at least seven Democratic votes to survive a Senate cloture test. Supporters say it would reduce regulatory uncertainty and improve investor protection, while critics want stronger consumer safeguards.

Sources:
Crypto News: Cynthia Lummis races to save the CLARITY Act before 2030
CryptoSlate: Lummis gave CLARITY Act a July promise, but it still needs a Senate path
Latham and Watkins: US Crypto Policy Tracker, Legislative Developments