One Year Later, CLARITY Act Remains Stuck in Senate as Crypto Rules Stall

One year after the House passed the CLARITY Act with nearly 80 Democratic votes, the bill remains stalled in the Senate, underscoring Washington’s failure to turn bipartisan support for digital asset innovation into a functioning regulatory framework.

House lawmakers marked the anniversary with a July 17 hearing at Federal Hall National Memorial in New York, titled “Building the Future of Finance: How the CLARITY Act Unlocks Innovation.” Witnesses included representatives from Nova Labs, Bullish, WisdomTree, and Coin Center, highlighting the bill’s relevance beyond crypto prices to areas such as network development, exchange listings, asset management, and institutional exposure.

Rep. Warren Davidson framed the anniversary as a test of congressional follow-through, noting that without Senate passage, the promised certainty remains aspirational. House Majority Whip Tom Emmer placed responsibility for the delay on the Senate.

Rep. Bryan Steil argued that regulation has failed to keep pace with blockchain’s maturity, stating that despite 15 years of existence, entrepreneurs still face uncertainty over asset classification and regulation.

House Financial Services Committee Chairman French Hill compared the situation to having a cellphone (stablecoin legislation) without a cell network (market structure bill). “If you have GENIUS and dollar-backed stablecoin, but you do not have a market structure bill… there is no ecosystem,” he said.

The next catalyst for the bill is measurable Senate movement—a committee agreement, markup, or scheduled vote. Meanwhile, Senator Cynthia Lummis said on July 14 that the Senate’s CLARITY Act is ready after months of negotiations, with bill text expected in days.

Continued delay could leave exchanges, developers, and investors facing unresolved questions over asset classification, registration, and federal oversight, while passage could give financial institutions greater confidence to participate in the U.S. market.

Source: https://news.bitcoin.com/one-year-later-clarity-act-remains-stuck-in-senate-as-crypto-rules-stall/