Senator Cynthia Lummis is pushing for a vote on the CLARITY Act as the landmark crypto bill moves closer to a Senate floor debate.
“The CLARITY Act passed committee. The floor is next. We did not come this far to quit at the 5-yard line,” Lummis wrote in a June 8 post on X. Her comments reflect renewed focus on the legislation across the crypto industry.
Journalist Eleanor Terrett highlighted the bill’s recent progress. The House already passed H.R. 3633 in July 2025 with a strong 294-134 vote. More recently, the Senate Banking Committee advanced the bill with a 15-9 vote. That gave the CLARITY Act its strongest momentum yet.
Committee Victory, Floor Fight Next
The committee vote was a breakthrough, but the bill still faces several hurdles. The Senate must approve the legislation, reconcile differences with the House version, and then send the final package to the president for signature.
There was bipartisan support in committee. Democratic Senators Ruben Gallego and Angela Alsobrooks joined Republicans to advance the bill. However, a final Senate vote could require 60 votes to overcome any procedural challenges.
Stablecoin Debate Still Unresolved
One of the biggest sticking points remains stablecoin rewards. Banks continue pushing for tighter restrictions on crypto platforms offering rewards tied to stablecoin balances. They argue such products compete directly with traditional deposits. Crypto firms want room for activity-based rewards that don’t function like conventional bank interest.
A compromise backed by Senator Thom Tillis helped move the legislation through committee. But the issue could re-emerge during floor negotiations.
Analysts Warn the Clock Is Ticking
Despite recent momentum, some analysts have become more cautious about the bill’s timeline. Galaxy Research’s Alex Thorn lowered his estimated odds of CLARITY Act passage in 2026 from 75% to 60%. He cited a crowded Senate schedule and unresolved policy issues.
Prediction markets have also cooled, reflecting concerns that the legislative window could narrow as the 2026 election cycle approaches. Treasury Secretary Scott Bessent suggested the bill could pass the Senate this summer. Many industry participants view July 4 as an important political target.
For crypto firms, exchanges, and investors, the outcome could be transformative. If passed, the CLARITY Act would provide the clearest regulatory framework the U.S. digital asset industry has seen. It would finally settle one of crypto’s longest-running regulatory debates.
