Senator Cynthia Lummis said she expects the Senate to vote on the CLARITY Act before the August recess. Formally called the Digital Asset Market Clarity Act of 2025, the bill aims to define regulatory authority over digital assets between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

The legislation has already cleared the Senate Banking Committee by a 15-9 vote and is being viewed as a possible framework for U.S. crypto regulation. Because the bill addresses which federal agency would oversee different parts of the digital asset market, its progress is being watched closely by lawmakers and market participants who are looking for clearer rules in a sector that has long faced overlapping jurisdiction questions.

Prediction markets currently assign a 15.5% chance that the CLARITY Act will be signed into law by the end of 2026. That is down from 26% a day earlier, indicating greater uncertainty. Senate Banking Committee Chair Tim Scott and Senate Majority Leader Chuck Schumer are among the key figures involved in moving the bill through the legislative process.

Despite the decline in market confidence, Lummis’s statement points to continued legislative activity. With the August recess approaching, the timing matters because any floor vote would be one of the clearer signals that the bill is advancing beyond committee and into a broader Senate debate.

What to watch

Attention will focus on whether the Senate schedules a vote on the CLARITY Act before recess. Investors and observers will also be watching for updates from Senate leaders Tim Scott and Chuck Schumer on the bill’s progress. Signs of bipartisan support or an official vote schedule could suggest the legislation is advancing, while delays or opposition could signal further hurdles.

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