Senate Republicans plan to release the updated text of the Digital Asset Market CLARITY Act today, July 17, immediately after a White House meeting with President Donald Trump. Not a single Senate Democrat has indicated support for the draft. That is a problem, because the bill needs 60 votes, meaning at least seven Democrats must cross over before the August recess begins on August 8.
Sen. Bernie Moreno (R-OH) confirmed the timing to reporters, saying the text would be distributed “right after the meeting.” The release lands exactly one year after the House passed H.R. 3633 by a 294–134 margin on July 17, 2025, a reminder of how long the Senate has sat on legislation the industry once expected to move quickly.
Why the CLARITY Act Needs Seven Democrats It Doesn’t Have
The bipartisan coalition existed once. The Senate Banking Committee advanced the bill 15-9 on May 14, with Democrats Ruben Gallego and Angela Alsobrooks joining Republicans. Disruption Banking covered that vote as markets rallied on the news. That support has since frayed. Gallego now calls the GOP’s ethics language “very weak,” and a separate faction of Senate Democrats held a press conference Tuesday, characterizing the bill as corrupt and threatening to block it.
The sticking point is not stablecoin yield: that fight was settled in May. It is the conflict-of-interest provision. Democrats want the president, vice president, and members of Congress to restrict their personal crypto ties, per CoinDesk. Trump’s latest financial disclosure valued his crypto income at more than $1.4 billion for 2025, which is why Democrats say ethics language without teeth is a non-starter.
Inside the White House Meeting: Moreno, Lummis, Witt
Attendees included Sen. Moreno, Sen. Cynthia Lummis, White House crypto advisor Patrick Witt, chief of staff Susie Wiles, and Solana Policy Institute President Kristin Smith. Smith said the session was aimed at pitching ideas on the ethics issue. Moreno told Politico the discussion would cover the full bill and its path to passage.
Notably, Democratic senators were not expected to be in the room; the people whose votes decide the outcome were absent from the negotiation to win them over.
Polymarket Odds Jump From 24% to 45%, But Then What?
Markets read the text release as progress. Polymarket odds on the CLARITY Act becoming law in 2026 climbed to 45% on July 17, up from a record low of 24% four days earlier. Still under a coin flip. A floor vote is expected the week of July 20, per H.R. 3633’s legislative record, and even after Senate passage, the House must agree on a final text.
Republicans have three working weeks. Seven Democratic votes stand between the crypto industry and the market structure law it has chased for two years.
Author: Ayanfe Fakunle
The editorial team at #DisruptionBanking has taken all precautions to ensure that no persons or organizations have been adversely affected or offered any sort of financial advice in this article. This article is most definitely not financial advice.
See Also:
Why the United States Needs the Clarity Act | Disruption Banking
