Former House Financial Services Chair: CLARITY Act's Passage Is 'When, Not If'

Former House Financial Services Committee Chairman Patrick McHenry has expressed strong confidence that the CLARITY Act will eventually become law, telling Bloomberg its passage is “a question of when, not if.” This marks a notably optimistic public statement from one of the bill’s chief architects, even as the legislation faces repeated delays in the Senate.

McHenry, who helped steer the bill through the House in 2025, recently compared the CLARITY Act to the Telecommunications Act of 1996 in a Fortune op-ed. He argued the bill represents a regulatory overhaul essential for maintaining U.S. leadership in technology and finance, providing clear rules for digital assets that would encourage innovation without fear of arbitrary enforcement.

Despite McHenry’s confidence, the bill’s path in the Senate remains uncertain. The Senate Banking Committee advanced the Digital Asset Market CLARITY Act by a bipartisan 15-9 vote on May 14, with Democratic Senators Ruben Gallego and Angela Alsobrooks supporting it. However, the legislation has since stalled over unresolved disputes, including government ethics provisions that would limit officials’ crypto holdings and how stablecoin yield should be treated under the new framework.

Senate Majority Leader John Thune acknowledged this week that the bill may not reach a floor vote before the August recess, though he expressed hope to “at least get Clarity started” before lawmakers leave town. Grassroots pressure has intensified, with advocacy group Stand With Crypto reporting 950,000 contacts to lawmakers urging a vote. Coinbase CEO Brian Armstrong has also stated the bill is ready for full Senate consideration.

The prediction of inevitable passage is not unique to McHenry. Treasury Secretary Scott Bessent recently described the bill’s progress as being at the “one-yard line,” while crypto policy analyst Sandra Ro noted in April that passage could occur by July “if lucky”—a deadline that is now approaching.

The immediate test for McHenry’s prediction will be whether Thune finds floor time before the recess or delays the bill until September. McHenry’s comparison to the 1996 Telecommunications Act sets a high bar, as that law took years to negotiate but fundamentally reshaped an entire industry once passed.

Source: https://news.bitcoin.com/mchenry-clarity-act-when-not-if/