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Trump urges Senate passage of the CLARITY Act before August recess
The updated bill text would set SEC and CFTC roles by giving the CFTC exclusive jurisdiction over spot markets for “digital commodities,” while the SEC oversees investment-contract assets.
President Trump urged the U.S. Senate to pass the CLARITY Act before the August recess, pushing lawmakers as they return to Washington on July 13 with roughly four weeks left to schedule, debate, and vote. Bitcoin Magazine framed the push as the narrowing window for what policy watchers view as the last realistic chance to enact comprehensive digital asset market structure legislation this Congress.
The CLARITY Act is designed to draw a regulatory line between the SEC and the CFTC. Under the bill, the commodities regulator would have exclusive jurisdiction over spot markets for “digital commodities,” while the SEC would oversee investment-contract assets.
The measure cleared the House in July 2025 by a bipartisan 294 to 134 vote and advanced out of the Senate Banking Committee in May by a 15 to 9 margin, with two Democrats joining all Republicans, according to Bitcoin Magazine. However, those committee votes included warnings that floor support was not assured.
Bitcoin Magazine said this week’s milestone is the release of updated text that merges the Senate Banking and Agriculture committee versions, offering a clearer signal on what survived negotiations and what remains unresolved. The article also said the bill missed a July 4 signing target discussed by White House crypto adviser Patrick Witt, and that major issues still need decisions to reach the 60-vote threshold.
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