U.S. Representatives Advocate for Senate Vote on CLARITY Act in July to

Representative French Hill has advocated for a definitive timeline for the Senate’s vote on the Digital Asset Market CLARITY Act.

A year after the House’s passage of the aforementioned act, Hill, who serves as the chair of the House Financial Services Committee, utilized a Fox Business interview with Maria Bartiromo to call upon Senate leaders to conduct a floor vote prior to the upcoming August recess.

“I have urged Senate leadership to prioritize this on the floor agenda,” stated Hill. “Establishing a scheduled date in July would facilitate the necessary final meetings and discussions. A deadline is essential in Congress to motivate action and foster consensus.”

Hill expressed gratitude towards Senators Kirsten Gillibrand, Cynthia Lummis, John Boozman, and Tim Scott for their collaborative efforts, highlighting the support of 78 Democrats who endorsed the House measure last year.

The principal argument put forth by Hill posits that the CLARITY Act would address the existing ethics concerns that currently impede its progress, rather than exacerbate them.

Opponents of the bill cite President Trump’s engagements in the cryptocurrency space, including $TRUMP meme coin licensing and World Liberty Financial token sales, which are linked to approximately $1.4 billion in projected income for 2025 according to a financial disclosure released on July 1.

Hill argues that the establishment of a market framework would instill the transparency desired by critics.

“Had we passed the CLARITY Act last summer, many of the issues currently raising concerns—such as meme coin issuance, co-investment, and the use of exchanges—would have been governed under a clear regulatory market framework, thereby providing reassurance to those worried about the investments of the Trump family,” he explained.

Clarity Act Pairs with the GENIUS Act

Hill delineates the CLARITY Act as an essential complement to the GENIUS Act, which governs stablecoins and was enacted last year.

“The relationship between the stablecoin and the market framework can be likened to a cell phone detached from its network,” Hill remarked. “The market framework serves as the necessary network for stability.” In a move to maintain momentum, Hill is organizing a field hearing in New York next week, spearheaded by digital assets subcommittee chair Representative Bryan Steil, to advocate for the establishment of a market structure.

The urgency of this initiative received endorsement from other speakers during the same Bartiromo appearance. CFTC Chairman Michael Selig cautioned against potential “mission creep beyond what is absolutely necessary,” underscoring that a delayed bill would result in regulatory ambiguity.

Coinbase Vice Chair Ryan VanGrack, a former SEC official, characterized the legislation as being “on the one-yard line,” with bipartisan senators reportedly working diligently to facilitate its passage.

The Senate reconvenes on July 13, affording approximately three weeks before the summer recess. Current analytics from the prediction market Polymarket estimate the likelihood of the Clarity Act’s passage in 2026 at approximately 39%, a decline from the prior month’s 74%.

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