CLARITY Act: Lummis Shares First Hint On Senate Floor Vote Timing

Sen. Cynthia Lummis has provided the clearest indication yet of when the Senate might bring the CLARITY Act to a floor vote. It appears lawmakers may require more time than first thought to advance the legislation through Congress — a sentence that could describe roughly every bill in recent memory.

Highlights:

• Senator Cynthia Lummis has shared her take on the CLARITY Act timeline
• She addressed whether the bill could reach a Senate floor vote before the July 4 recess
• Lummis noted lawmakers would need more time, and a vote could be held before the August recess

Senator Lummis Comments on CLARITY Act Senate Vote Timeline In a conversation with journalist Eleanor Terrett, Lummis shared insights on the expected timeline of the bill. She noted that it is not yet clear if the CLARITY Act will pass before the July 4 congressional recess, given the competing agendas of lawmakers.

Lummis said she thinks the Senate floor vote could happen before the July 4 recess, but believes the vote is more likely to take place ahead of the August recess. "I think it's possible, but maybe more likely we finish it before the August recess," she said.

This week, the Digital Asset Market Clarity Act was officially added to the Senate Legislative Calendar, making it possible for the legislation to be considered on the Senate floor after lawmakers reconvened on June 3. Senate leadership has yet to designate a formal date for debate and votes on the legislation.

There are still a few bills and amendments that must be combined before the Senate can move forward, Lummis said. "We have to wrap the Banking Committee bill with the Ag Committee's bill with the ethics provisions with some changes to the Genius Act," she explained.

Getting the final CLARITY Act text — and securing the 60 votes necessary for cloture — "might take a little more time than the 4th of July," the senator added. Nonetheless, a quicker process is not impossible. She cited the fact that Congress enacted the Working Families Tax Cut bill in "record time" last year.

In a separate update, Lummis rebuked JPMorgan CEO Jamie Dimon for his opposition to the bill.

Crypto Market Structure Bill Gets Renewed Support From Industry Amid the CLARITY Act's progress, crypto developers are gaining new political support. A new political action committee (PAC) called Defend Developers has launched, positioning itself as pro-developers from the United States, decentralized finance builders, and crypto software engineers. One of the issu