CFTC Chairman Calls on Congress: The CLARITY Act Is Just One Step Away—Push to Pass Before the Summer Recess

July 9, according to market sources, Michael Seligh said in a media interview that although the original target of passing the bill by July 4 was missed, the CLARITY Act is still within arm’s reach.

The current U.S. CFTC Chairman, Michael Seligh, is urging Congress to move this work forward as quickly as possible before it recesses on August 7, emphasizing that the bill is “critical” to the United States’ competitiveness in the crypto sector.

The bill’s core objective is to clearly delineate regulatory responsibilities between the CFTC and the SEC, avoiding the industry’s confusion caused by inconsistent regulatory standards across states. The House passed the bill last year, but progress is now stalled at the Senate stage.

At present, the main obstacles to advancing the bill lie in disagreements between the two parties. Specifically, Democrats want to add morality/ethics provisions targeting the crypto businesses of the Trump family, while Selig believes these additional requirements are “adding drama” and would delay passage of the bill.

Meanwhile, Democrats insist that these provisions are necessary measures to protect consumers. The two sides have stark disagreements on this issue, which has become the primary barrier to the bill being passed smoothly.

Separately, Senate Digital Assets Subcommittee chair Lummis revealed that the final text of the bill is expected to be released this month and a vote will be scheduled. However, some analysts also believe that if the bill cannot be passed before August 7, the next opportunity may not come until 2030.

#CFTC #CLARITY Act