Elsewhere, a sign of optimism emerged in a Wednesday letter from Senator Ron Wyden to Senate leadership, in which the Oregon Democrat expressed support for the legal safeguards for developers included in the earlier version of the legislation — specifically the Blockchain Regulatory Certainty Act portion of Clarity. That provision would shield crypto developers from being classified as money transmitters under federal law, provided they do not handle customer assets. The decentralized finance (DeFi) community has made preserving this provision a priority in the ongoing Clarity negotiations.
Although some crypto industry insiders in Washington have privately voiced doubts about the bill’s chances, the timeline has not yet passed the critical deadline for completion before the summer recess and the ensuing focus on the fall midterm elections.
The Senate schedule shows three weeks left in July plus the first week of August. Advancing the bill could consume several days of that window, leaving little time for a 2026 enactment. Additionally, a pending defense spending bill could further strain the chamber’s capacity.
Before the Clarity Act can become law, the House of Representatives must also approve the Senate’s version, meaning the process hinges on action from a House that has been largely gridlocked by Republican infighting. After House passage, the bill would go to President Donald Trump for his signature. Notably, the president has declined to sign another widely supported measure — the Senate’s bipartisan housing bill — insisting that Congress first address his demands for new voting regulations.
