Foreign media: The United States Senate is accelerating progress on the Digital Asset Market Clarity Act, which Senator Cynthia Lummis argued could be the last window to push United States digital asset legislation down by 2030. The draft harmonization is expected to be published by Senate staff during the week of 13 July, with the goal of moving the vote forward during the week of 20 July.
Seven votes is the key.
The bill requires 60 votes to pass through the Senate. The Republicans have basically locked 53 votes, and the remaining gap is filled by seven Democrats. To date, no Democrat MP has made a clear commitment to support the House-wide vote.
The controversy is concentrated on three points.
What is most difficult at present is ethical provisions, manual arrangements for regulators, and the scope of protection for DeFi. Senator Kirsten Gillibrand et al. called for more explicit conflict of interest restrictions, while some parliamentarians were concerned that the provisions would affect the interests of the current Government.
The Bill points to a clearer division of labour.
CLARTY Act proposes to establish the first federal digital asset market framework, which will separate digital goods, securities-type tokens and payment-type stables. Assets such as bitcoin, ETA and Solana may be included in commodity regulation, while exchanges, brokers and marketers will also face new registration requirements.
The market has been precalculated in part.
Galaxy Research has reduced the probability of the Act being passed in 2026 to 50 per cent. However, the market had previously responded to progress. Following a vote by the Commission on 14 May, Bitcoin rose to $81,449, and XRP rose by 4.5 per cent in short.