The U.S. Senate is set to resume consideration of the Digital Asset Clarity (CLARITY) Act this week as lawmakers return from an extended Memorial Day recess, with Democrats conditioning their support on stronger provisions addressing potential conflicts of interest among elected officials.
The Republican-led bill, which passed the House of Representatives in July 2025, aims to establish a comprehensive market structure for cryptocurrencies by granting greater authority to the Commodity Futures Trading Commission (CFTC) over digital assets. It cleared two key Senate committees—the Agriculture Committee in January and the Banking Committee in May—before the break, but faces ongoing pushback from both the crypto industry and traditional banking sector over issues including stablecoins and tokenized equities, reported CoinTelegraph.
“This will actually be the biggest financial regulatory bill that Congress has done in quite some time, certainly since Dodd-Frank,” Coinbase Chief Policy Officer Faryar Shirzad told Fox Business on Monday.
Banking industry leaders have also voiced reservations. JPMorgan CEO Jamie Dimon stated on Friday that the sector would not accept the bill as written, citing provisions that would allow crypto companies to pay interest on user deposits and stablecoin balances.
Bipartisan Hurdles and Ethics ConcernsLawmakers this week are expected to begin reconciling the differing versions of the legislation from the two committees, with some Senate insiders anticipating a floor vote as early as August. However, the path forward remains uncertain due to Democratic demands for ethics safeguards.
Hellbound and Down 