Key Highlights
- Senator Cynthia Lummis is urging Congress to pass the CLARITY Act as the GENIUS Act marks its first anniversary.
- The GENIUS Act created rules for stablecoins, while the CLARITY Act aims to provide wider rules for the broader crypto market.
- The CLARITY Act has cleared the House and Senate Banking Committee but still faces a 60-vote hurdle in the full Senate.
Senator Cynthia Lummis has once again called on Congress to pass the Digital Asset Market CLARITY Act as the GENIUS Act marks its first anniversary, saying the United States must build on its new stablecoin rules to create a wider crypto framework and keep its position as a global leader in digital assets.
“One year ago, the GENIUS Act became law,” Lummis wrote in an X post. She called the legislation “an important first step in securing the dollar’s dominance” and said the U.S. must now use that progress to “cement America’s legacy as the crypto capital of the world.” Her message was simple: “Let’s get the Clarity Act done!”
The GENIUS Act was signed into law by President Donald Trump on July 18, 2025, making it exactly one year. It was expected to create rules for payment stablecoins in the United States.
Lummis warns the U.S. cannot keep waiting
Lummis has previously warned that Congress cannot afford to keep delaying the CLARITY Act. In a recent post on X, she said the United States could lose its chance to create its own digital asset rules before 2030, leaving another country to shape the future of the industry.
The CLARITY Act has already passed the House of Representatives by a bipartisan vote of 294-134. It also advanced through the Senate Banking Committee in May 2026 with a 15-9 vote. The bill is now on the Senate Legislative Calendar, meaning it is ready for further consideration, but Senate leaders have not scheduled a final vote.
Senate remains the biggest hurdle
The Senate remains the bill’s biggest obstacle. The legislation requires 60 votes to overcome a filibuster, meaning Republicans will need support from several Democrats.
Lawmakers are also working against the clock before the Senate leaves Washington for its August recess. The release of the updated bill text was also delayed on Friday as lawmakers continued negotiations over ethics provisions. Industry participants now expect the revised language to be released next week.
Read: Galaxy CEO Urges Passage of CLARITY Act for Crypto Clarity
Hill says CLARITY would complete the crypto framework
While Senate negotiations continue, supporters of the bill are making the case that the United States needs clear rules to keep crypto businesses at home.
U.S. Representative French Hill recently said the GENIUS Act needs the CLARITY Act to work properly. He compared the relationship between the two laws to having a cellphone without a network to support it.
“If you have the GENIUS Act, which authorizes dollar-backed stablecoins, but you don’t have a market structure bill, it’s like being authorized to own a cell phone without an ecosystem to support it,” Hill said.
Supporters argue that while the GENIUS Act established rules for one segment of the crypto market, the CLARITY Act would provide the broader regulatory framework governing digital asset markets.
Several industry representatives have also told lawmakers that years of unclear rules have pushed some blockchain businesses and developers overseas. They argue that clearer regulations could help companies, investment, and technical talent stay in the United States or return to the country.
For Lummis, the first anniversary of the GENIUS Act is not only a milestone but also an opportunity to renew calls for Congress to complete the broader crypto regulatory framework that lawmakers and industry participants say is still needed.
Also Read: Senator Warren Seeks Trump Crypto Disclosure as CLARITY Talks Continue
