CLARITY Act Advances As US House Sets Critical July 17 Hearing

The U.S. House Financial Services Committee has scheduled a crucial hearing for the Digital Asset Market CLARITY Act on July 17, casting uncertainty on the July 4 target for approving the crypto market structure legislation.

The hearing, titled “Building the Future of Finance: How the CLARITY Act Unlocks Innovation,” will be held by the House Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence, chaired by Rep. Bryan Steil. Other members include Rep. Tom Emmer, Rep. Byron Donalds, and Rep. John Rose.

The move follows lobbying by crypto groups urging lawmakers to advance digital asset legislation. Some supporters had sought Senate action before the July 4 recess, with Trump’s crypto advisor Patrick Witt and Senator Bill Hagerty suggesting the bill could be signed into law by then.

If approved, the CLARITY Act would establish clear rules for digital asset markets and define inter-agency regulatory responsibilities. Industry proponents say it could reduce uncertainty and spur innovation in the U.S.

However, the July 17 hearing suggests debate will extend beyond mid-July, potentially slowing the approval timeline. Supporters are now looking to the Senate, which has not yet scheduled a full floor vote despite the Senate Banking Committee approving the bill last month. This leaves the legislative path uncertain.

Prediction market platform Polymarket shows decreasing odds of the bill passing this year.

Source: https://coingape.com/clarity-act-advances-as-us-house-schedules-critical-july-17-hearing/