Sen. Thune Vows CLARITY Act Vote Next Week, With Or Without Democrats

Senate Majority Leader John Thune said Wednesday he intends to bring the Digital Asset Market Clarity Act, widely known as the CLARITY Act, to a full Senate floor vote next week, whether or not Democrats fall in line. "It'll get a vote, not sure when yet but in the next couple weeks," Thune told reporters at the Capitol.

Updated Bill Text Adds Ethics Guardrails

Republicans re-released updated bill text on Wednesday. Senator Cynthia Lummis of Wyoming, the bill's lead sponsor, provided the revised text, which now includes the first limits on how presidents may profit from crypto. The legislation taps the Department of Justice to enforce the ban, which carries a fine of up to $250,000 per day for violators. President Donald Trump signed off on the ethics section of the bill, according to Senator Bernie Moreno of Ohio, one of the measure's supporters.

The bill seeks to establish a comprehensive federal framework for cryptocurrency regulation in the United States, delineating the roles of the SEC and CFTC in overseeing digital assets. It has been championed by major crypto companies including Coinbase, Circle, and Ripple, which want a degree of regulation to help encourage investors.

A Long Road Still Ahead

The CLARITY Act passed the House on July 17, 2025, by a vote of 294 to 134. The Senate Banking Committee approved its version of the bill on May 14, 2026, by a 15-to-9 vote, with all Republicans on the committee joined by Senators Ruben Gallego and Angela Alsobrooks, two Democrats. Despite that committee progress, bipartisan support on the full Senate floor remains uncertain heading into next week.

The bill still requires a cloture motion, a successful 60-vote invocation, formal reconciliation with the Senate Agriculture Committee's companion measure, and a presidential signature. Before the bill can reach President Trump's desk, both chambers must also reconcile their texts, adding another layer of political risk. Missing the pre-recess window would almost certainly stall the bill's momentum until 2027.

Sources:
CNBC: Senate crypto bill would ban federal officials from issuing digital assets
Yahoo Finance: CLARITY Act Stalls in Senate as Three Disputes Block Crypto Regulation
CNBC: Clarity Act clears Senate Banking Committee