Bryan Steil optimistic Senate will pass CLARITY Act next week

Representative Bryan Steil, the Wisconsin Republican who chairs the House Financial Services Subcommittee on Digital Assets, went on Fox News to make a prediction that crypto lobbyists have been waiting years to hear: the Senate will pass the CLARITY Act next week.

A long road to the Senate floor

The Digital Asset Market Clarity Act has been grinding through the legislative process for over a year now. The House passed it on July 17, 2025, with a 294-134 vote that was notably bipartisan. 78 Democrats crossed the aisle to support it.

The Senate Banking Committee then advanced its own version on May 14, 2026, though with a much tighter 15-9 margin. That bill landed on the Senate’s Legislative Calendar by June 1, 2026. Now, a floor vote is expected during the week of July 20, 2026. The bill needs 60 votes to clear the Senate’s filibuster threshold.

What the CLARITY Act actually does

The CLARITY Act draws a line between the CFTC and SEC. It establishes clear jurisdictional boundaries between the two agencies, provides guidelines for blockchain networks and exchanges, and creates a defined category for digital commodities. The act categorizes digital assets into three primary groups: digital commodities overseen by the CFTC, investment contract assets regulated by the SEC when linked to capital-raising efforts, and permitted payment stablecoins. It also proposes safe harbors for decentralized finance (DeFi) developers and validators.

Senate dynamics and the path to 60

Senate Republicans have been preparing updated text for the bill, and President Trump has reportedly been engaging with senators on related digital asset matters. The House managed to pull 78 Democrats, roughly a third of the caucus. The Senate would need around 9-10 Democratic votes, depending on attendance.

What this means for crypto markets

Over the past several years, the SEC has brought dozens of actions against crypto firms, often applying securities laws that were written in the 1930s to technology that didn’t exist until the 2010s. A clear statutory framework would give courts and regulators actual guidelines to work from, rather than forcing them to shoehorn digital assets into Depression-era categories.

The week of July 20 will tell us whether American crypto regulation finally graduates from enforcement actions to something that actually resembles a legal framework.

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