The U.S. Senate enters a critical window for the 《Clarity Act》, and the next four weeks may determine the bill’s fate this year

BlockBeats message: On July 13, after the U.S. Congress reconvened, the Clarity Act (crypto market structure bill) entered a critical legislative window. Industry insiders believe that the next four weeks will determine whether the bill can complete consideration in the Senate before the Congress recesses in August and be formally passed this year.

Reports say that this week the Senate is expected to release the latest bill text after integrating the versions from the Banking Committee and the Agriculture Committee. At present, the bill still faces two main core disagreements: first, the final wording in the Blockchain Regulatory Certainty Act regarding regulatory responsibility for non-custodial software developers; second, ethics provisions involving potential conflicts of interest for government officials, especially those related to Trump’s crypto businesses. Sources say the White House and Congress have not yet reached agreement on the ethics provisions, which is seen as a key factor in the bill securing the 60-vote threshold.

Galaxy Digital research head Alex Thorn said the next four weeks could be the last chance for the Clarity Act to pass in this Congress; if the bill does not land, the U.S. may fall further behind overseas markets in the competition for digital asset innovation.