Senate readies final CLARITY Act text for post-recess vote

The revised schedule pushes aside earlier hopes for a July 4 signing, setting the stage for a critical window of deliberation later this month. Bloomberg Intelligence now estimates a 60% probability of passage in July, buoying market optimism despite the narrow path to approval. To clear the Senate, the bill requires 60 votes, necessitating bipartisan support beyond the current 53-seat Republican majority. While Democratic Senators Angela Alsobrooks and Ruben Gallego supported the measure in committee, their floor votes remain uncommitted.

Legislative momentum is buoyed by new institutional backing, most notably from the National Organization of Black Law Enforcement Executives (NOBLE). NOBLE’s endorsement serves as a counterweight to previous objections from other law enforcement groups regarding Section 604, which outlines regulatory boundaries for non-custodial developers. The Department of Justice has also intervened in the discourse, formally disputing claims that the legislation would create enforcement gaps in money laundering or sanctions investigations. With the Senate facing a truncated session before the August recess, proponents like Stand With Crypto are intensifying lobbying efforts, warning that continued legislative paralysis risks driving innovation and capital away from the U.S. market.