Clarity Act Faces Make-or-Break Two Weeks as Senate Returns From Recess

The Clarity Act, the most sweeping US crypto market structure bill, enters a critical two-week window after the July 4 recess. Senate negotiators must resolve disputes over Trump ethics provisions, law enforcement concerns, and market structure rules to secure 60 votes before August recess.

• Senators return July 13 with a narrow window before August recess to pass the bill.
• The bill needs at least 7 Democratic votes assuming all 53 Republicans support it, which is not guaranteed.
• Key disputes include ethics rules for President Trump's crypto holdings, law enforcement concerns over Section 604, and federal preemption of state law.
• Senator Tim Scott has called for a Senate vote on crypto market structure legislation in July.
• A House Financial Services field hearing on the Clarity Act is scheduled for July 17.

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