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### BREAKING: The CLARITY Act enters a make-or-break phase.
The Senate has roughly 20 working days after returning on July 13 to pass the CLARITY Act before the August 7 recess. If it misses that window, the bill's chances of becoming law drop sharply.
Key points:
* No Senate floor vote or cloture motion has been scheduled.
* Ethics provisions remain the biggest sticking point, with Democrats pushing restrictions on crypto profits by public officials.
* Other disputes include protections for software developers and whether exchanges can offer yield on stablecoins.
* Republicans hold 53 seats but need at least 7 Democratic votes to overcome a filibuster. Only two Democrats have publicly backed the bill so far.
If passed, the CLARITY Act would establish a federal framework for digital assets, placing Bitcoin and Ethereum under CFTC oversight and limiting the SEC's authority to reclassify them. Many see it as a critical step toward broader institutional adoption of crypto.
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