Senator Cynthia Lummis (R-WY) said she expects the Senate to take up the CLARITY Act before the August recess as lawmakers continue negotiations over the crypto market structure bill.
In a Fox Business interview on Wednesday, Lummis said lawmakers have been negotiating the bill for nearly a year, with Democrats requesting significant changes during the process. “There are other bills, additions to the CLARITY Act, that we need to take votes on before we leave for the August recess. CLARITY is one of those bills,” she said.
Lummis said the Senate should move the bill to a floor vote after nearly 11 months of negotiations, arguing that lawmakers need to publicly record their positions on the CLARITY Act after more than 300 pages of changes were added during discussions.
Regulatory and ethics issues remain under discussion
Lummis said discussions are continuing around the Commodity Futures Trading Commission (CFTC), law enforcement provisions, and ethics requirements.
She added that negotiations with Democrats are ongoing as lawmakers continue discussions around the CFTC section and law enforcement provisions of the CLARITY Act.
The ethics debate remains one of the bill’s primary sticking points, with lawmakers continuing discussions over how potential conflicts of interest should be addressed.
Hagerty also calls for Senate floor vote
Lummis’ comments follow similar remarks from Senator Bill Hagerty (R-TN), who recently urged the Senate to hold a vote on the CLARITY Act.
A day ago, Hagerty said lawmakers should allow the Senate to vote rather than continue negotiations behind closed doors. “We have to pass the CLARITY Act. I think we should put it through a vote on the floor of the United States Senate and find out where Democrats stand,” Hagerty said.
Hagerty also pointed to the GENIUS Act, the stablecoin legislation passed earlier this year, as an example of Congress advancing digital asset regulation.
Crypto industry pushes back on CLARITY Act criticism
The legislative debate has also extended beyond lawmakers, with crypto industry representatives responding to criticism of the bill.
Recently, Crypto Council for Innovation CEO Sheila Warren challenged concerns raised by The Wall Street Journal regarding potential loopholes in the CLARITY Act.
Senator Cynthia Lummis shared support for the response, as industry participants argued that the legislation would establish clearer rules rather than reduce oversight.
The discussion reflects broader disagreements over whether the bill provides sufficient protections while creating clearer rules for digital asset companies.
Senate funding debate could affect timeline
Although Lummis said she expects the CLARITY Act to receive a vote, she acknowledged that the Senate has several competing priorities before the August recess. She said a continuing resolution to prevent a government shutdown remains the chamber’s immediate focus.
“The continuing resolution is priority one. We cannot allow ourselves to go into the August campaigning break with a government shutdown,” Lummis said.
The Senate’s schedule will determine whether lawmakers have enough time to consider the crypto market structure bill before leaving Washington.
Prediction markets reflect uncertainty
While lawmakers continue discussions over the CLARITY Act, prediction market activity suggests traders remain uncertain about whether the bill will become law this year.
A Polymarket contract tracking whether the CLARITY Act (H.R.3633) will be signed into law in 2026 showed a 16% probability of passage, according to data visible on the platform on August 5.
The prediction market odds have declined as negotiations continue in Washington, reflecting uncertainty around the bill’s timeline, remaining disagreements over ethics provisions, and competing Senate priorities before the August recess.
However, prediction market pricing does not represent an official legislative forecast or indicate the bill’s actual likelihood of passage. The CLARITY Act’s outcome will depend on Senate negotiations, floor scheduling, and whether lawmakers can reach agreement on the remaining issues.
CLARITY Act moves toward key Senate test
The CLARITY Act has become one of the most closely watched crypto policy efforts in Washington as lawmakers debate how digital assets should be regulated at the federal level.
With Lummis and Hagerty both calling for a vote, pressure is increasing on the Senate to decide whether the legislation can advance before the August recess or whether negotiations will continue into September.
The outcome will depend on whether lawmakers can resolve remaining disagreements over enforcement, ethics provisions, and regulatory authority.
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