Key Highlights
- The updated CLARITY Act text, expected after Thursday’s White House meeting, has reportedly been delayed until next week.
- Industry participants are now preparing for the bill text to be released next week.
- The House Financial Services Committee held a field hearing in New York on Friday focused on how the CLARITY Act could unlock innovation, though no Democratic members attended.
The updated text of the CLARITY Act appears to have been delayed once again, with crypto industry participants now expecting the revised legislation to be released sometime next week instead of immediately following Thursday’s White House discussions.
According to an X post shared by journalist Eleanor Terrett, industry sources are now preparing for the rollout of the updated bill after negotiations over ethics provisions continued beyond expectations.
The delay comes after many in the crypto industry expected revised legislative language to emerge shortly after President Donald Trump met with Senate Republicans to discuss remaining disagreements.
House hearing keeps the spotlight on CLARITY
While Senate negotiations remained behind closed doors, the House Financial Services Committee held a field hearing in New York on Friday, examining how the CLARITY Act could help restore blockchain innovation in the United States.
Notably, no Democratic members were present during the hearing, leaving Republican lawmakers and industry witnesses to discuss the legislation’s potential impact on digital asset markets.
Terrett noted that the hearing was informational and does not directly affect Senate consideration of the bill, but it highlighted continued Republican efforts to build support for broader crypto market structure legislation.
Why the industry wants clear rules
Much of Friday’s discussion centered on how years of regulatory uncertainty have affected blockchain companies operating in the United States.
Representative Tim Moore (R-N.C.) argued that many digital asset businesses expanded overseas because they lacked clear federal rules. “There’s inherent risk in certain technologies, but the guidelines and the proposals and the law that’s being worked on with respect to the GENIUS Act and the CLARITY Act are designed to do that,” Moore said.
He added that Congress is now working to provide the regulatory stability needed to bring those businesses back.
CLARITY Act seen as essential for blockchain innovation
Nova Labs Chief Legal Officer Sarah Aberg told lawmakers that her company’s own experience illustrates why legislation such as the CLARITY Act is needed. She described previous SEC enforcement efforts against Nova Labs, arguing that infrastructure projects building decentralized networks have often faced uncertainty despite not raising capital through public token offerings.
According to Aberg, the CLARITY Act would classify functional blockchain networks under the Commodity Futures Trading Commission (CFTC) while preserving enforcement tools against fraud and market manipulation. “I don’t think CLARITY is a call for deregulation. I think it’s a call for the right regulation by the right regulator,” she added.
She also warned that without legislation, blockchain infrastructure projects may continue leaving the United States.
Coin Center: Clear rules could reverse the offshore trend
Coin Center Policy Director Jason Somensatto echoed similar concerns, arguing that constantly changing regulatory interpretations have pushed American blockchain developers to establish operations outside the country. He said the CLARITY Act would clearly define which businesses fall under federal oversight while protecting software developers and others who do not have custody of customer assets.
According to Somensatto, that clarity could encourage companies, investment, and engineering talent to remain in or return to the United States without weakening protections against fraud or market abuse.
Attention now shifts to next week
If the revised language is released next week, it could mark the beginning of the next phase of congressional consideration before lawmakers move toward a Senate floor vote later this summer.
For now, the crypto industry remains focused on when the final CLARITY Act text will be released and whether it will provide the regulatory certainty many companies say has been missing for years.
Also Read: CLARITY Act Live: July 17 House Financial Services Committee Hearing
