- Sen. Dave McCormick expects the CLARITY Act to reach President Trump’s desk this summer.
- He said the bill would finally give crypto the missing regulatory clarity.
- Last week, the Senate Banking Committee advanced its version of the CLARITY Act.
The long‑delayed CLARITY Act seems to be finally picking up momentum, as Senator Dave McCormick said he expects the legislation to reach President Donald Trump’s desk this summer.
In an interview, McCormick said the bill would finally give crypto the regulatory clarity it’s been missing and keep innovation in the US instead of pushing it abroad.
His comments follow a big breakthrough last week when the Senate Banking Committee advanced its version of the CLARITY Act with a bipartisan 15‑9 vote. Two Democrats joined Republicans in supporting the legislation, which is a notable development considering the historically divided positions on cryptocurrency regulation in Washington.
The House already passed an earlier version of the CLARITY Act back in 2025 with support from both parties.
The CLARITY Act Goals
At its core, the CLARITY Act’s main objective is to finally define the rules and regulations for digital assets in the US. It aims to draw clearer lines between what the SEC (Securities and Exchange Commission) and the CFTC (Commodity Futures Trading Commission) control when it comes to crypto.
Under the CLARITY Act, most cryptos would likely be regulated as commodities by the CFTC instead of as securities, something the crypto industry has wanted for years.
The legislation also tries to address longstanding confusion around DeFi, token launches, stablecoins, and crypto exchanges. Senate Banking Committee documents say the bill would swap what the industry calls “regulation by enforcement” for actual written law.
Still, the bill remains politically sensitive and divisive. Several Democrats are worried about anti-money laundering standards and consumer safeguards, with possible conflicts of interest from politicians involved in crypto projects being another concern.
Additionally, there have been debates around stablecoin rewards programs, which banks say could compete directly with traditional deposit accounts.
As it stands, many crypto executives and enthusiasts believe the CLARITY Act could be the most important crypto bill the US has ever seen.
Related: Despite the CLARITY Act Advancement, Bitcoin Fell Below $77K
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