The U.S. Senate adjourned on Aug. 8 without holding a final vote on the Digital Asset Market Clarity Act of 2025, widely known as the CLARITY Act, leaving the digital-asset market structure bill awaiting further action. According to the ABA Banking Journal, the Senate is in recess until Sept. 14.

Latest Legislative Status

Congress.gov lists the latest action on H.R. 3633 as a Senate cloture motion on the motion to proceed to the measure, presented on Aug. 8, 2026. The site’s bill tracker lists the measure as having passed the House. A cloture motion on the motion to proceed is the procedural step used to open floor debate on a measure, and it requires a 60-vote threshold to succeed.

The congressional record identifies the measure as H.R. 3633, the Digital Asset Market Clarity Act of 2025. It was introduced on May 29, 2025, by Rep. J. French Hill, and the House passed it on July 17, 2025, by a bipartisan 294-134 vote. The Senate Banking, Housing, and Urban Affairs Committee reported the bill on June 1, 2026, with an amendment in the nature of a substitute.

Where the CLARITY Act Stands

(SOURCE: Kalshi)

The reported Senate text describes the legislation as a measure to provide for regulation of the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission. It also includes provisions amending the Federal Reserve Act and provisions concerning central bank digital currency. The division of authority between the two regulators speaks to the core jurisdictional question that has hung over U.S. digital-asset markets: whether a given token and the platform trading it are governed by SEC securities rules or CFTC commodity rules, an ambiguity the industry has repeatedly asked Congress to resolve.

The Aug. 8 Senate action did not produce a final vote on the bill. The ABA Banking Journal reported that further action was pushed until at least September, and Congress.gov continues to show the Senate cloture motion on the motion to proceed as the latest listed action.

The bill has moved through several stages since its introduction. The House vote occurred in July 2025, after which the measure was received in the Senate and referred to the Banking, Housing, and Urban Affairs Committee. The committee later reported a version containing a substitute amendment. Congress.gov lists five text versions, including the House-engrossed text and the version reported to the Senate.

What Is in the Senate-Reported Text

The Senate-reported version is organized around definitions, rulemaking, and registration provisions for digital-asset activity. Its table of contents includes definitions under the Securities Act of 1933, the Securities Exchange Act of 1934, and the Commodity Exchange Act, as well as provisions for the expedited registration of digital commodity exchanges, brokers, and dealers.

The legislation also includes a title addressing offers and sales of digital commodities. Other titles address registration with the SEC for intermediaries and with the CFTC for digital commodity intermediaries. The text includes provisions on investment contract assets, digital commodity exchanges, qualified digital asset custodians, brokers, dealers, and associated persons.

Additional sections listed in the bill concern anti-fraud authority over permitted payment stablecoins and certain digital commodity transactions, recordkeeping modernization, dual-registered entities, DeFi activities, and custody activities by banking institutions. The bill also contains sections labeled “effective-date” and “implementation provisions.” The stablecoin-related provisions sit alongside the federal payment-stablecoin framework Congress enacted in July 2025 under the GENIUS Act, which makes the CLARITY Act the market-structure half of a two-part digital-asset legislative agenda.

A separate title covers innovation and technology improvements, including provisions related to the SEC’s Strategic Hub for Innovation and Financial Technology, LabCFTC, decentralized finance, non-fungible tokens, financial literacy, payments, and illicit use of digital assets.

The final title is the Anti-CBDC Surveillance State Act, with provisions concerning products or services offered by Federal Reserve banks and central bank digital currency.

SEC’s Tokenization Push Stalls as CLARITY Act Negotiations Take Priority

SEC’s Tokenization Push Stalls As CLARITY Act Negotiations Take Priority

The SEC’s tokenization innovation exemption has reportedly been delayed again.

Crypto reporter Eleanor Terrett says details are unlikely to be released soon.

Sources cited by Terrett linked the delay to… pic.twitter.com/1tbrQCqsbN

— BSCN (@BSCNews) August 14, 2026

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SEC Regulation: Issues Raised During the Senate Delay

The ABA Banking Journal described the CLARITY Act as a proposed regulatory framework for cryptocurrencies and other digital assets. It reported that the American Bankers Association and others have urged senators to use the legislation to address what they describe as a loophole allowing digital-asset service providers to avoid an existing prohibition on stablecoin interest and yield.

The same report said Democrats have pressed for language intended to prevent federal officials from profiting from businesses engaged in digital currencies. It also reported that senators from both parties have raised concerns about the bill’s potential effects on local lending if the stablecoin-interest-and-yield issue is not addressed.

Those matters are part of the policy context surrounding the measure as senators prepare to return from recess. The congressional record documents the Senate committee’s substitute amendment, while the ABA report identifies the stablecoin-interest and yield question, the federal-officials language, and local-lending concerns as the issues raised around the delayed action. When the Senate reconvenes on Sept. 14, the first procedural question is whether the pending cloture motion on the motion to proceed is brought to the floor for a vote.