Senate Banking Committee

Digital asset legislation could face a harder path if Democrats gain control of key congressional committees in the next session. Several likely committee leaders have criticized crypto bills, raising the risk of delays, investigations, and narrower regulatory proposals.

The U.S. Senate will not vote on the Digital Asset Market Clarity Act before its late-summer break, slowing momentum for one of the crypto industry’s most closely watched bills. Lawmakers are expected to revisit the measure when the Senate returns to Washington, D.C., in September, but unresolved political and policy disputes remain.

Senators Elizabeth Warren and Richard Blumenthal have asked the SEC to investigate President Donald Trump’s $TRUMP memecoin after steep investor losses. The request lands as Senate negotiations over the Digital Asset Market Clarity Act remain stuck on ethics rules for government officials tied to crypto projects.

The Senate’s Digital Asset Market Clarity Act is moving closer to a vote after lawmakers released an integrated draft. Key disputes remain over ethics rules, state enforcement powers, illicit finance provisions and agency representation.

Polymarket traders now assign the CLARITY Act a 32% chance of passing by the stated deadline, the lowest level since the market opened in January. Senate negotiations remain stuck on bipartisan ethics language, even as crypto executives press Congress for clear SEC and CFTC boundaries.

Three U.S. Senate Democrats have intensified their opposition to the Digital Asset Market Clarity Act, arguing that the bill should not advance without strict limits on senior officials’ crypto activity. The dispute centers on President Donald Trump’s personal crypto ties and whether the legislation can attract enough Democratic support to clear the Senate’s 60-vote threshold.

A revised version of the Digital Asset Market Clarity Act may be released as soon as next week as Senate negotiators try to keep crypto market structure legislation alive. The effort still faces unresolved fights over ethics rules, agency authority and the Democratic votes needed to clear the Senate.