U.S. crypto bill faces tighter timeline as Clarity Act talks continue

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U.S. crypto bill timeline

Highlights

Senate staff-level talks continue to reconcile differences between Agriculture and Banking Committee versions of the U.S. crypto bill, aiming for an Aug. 7 floor vote deadline.
Democratic demands for ethics restrictions intensified after President Donald Trump's 2025 disclosure showed $2 billion in income, including $1.4 billion from crypto and over $100 million in crypto holdings.
House procedural dysfunction and uncertainty about Trump's willingness to sign the measure are raising concerns about the bill's passage and timeline ahead of the midterm elections.

Senate negotiations continue before August deadline

As reported by CoinDesk, people following the legislative process say staff-level talks are still continuing behind the scenes, even as Congress spends limited time in session this summer. The main work includes reconciling differences between versions advanced by the Senate Agriculture Committee and Senate Banking Committee, with supporters arguing that once agreement is reached, floor debate and a vote may only require a few days.

The bill did not meet the July 4 target that White House adviser Patrick Witt said in May he hoped to see. Even so, several people tracking the process say they remain optimistic that the legislation can still pass in 2026, with Aug. 7 identified as the last key Senate date before lawmakers leave for the summer and campaign season.

If the legislation slips past the midterm election, its prospects become less certain because a change in control of either chamber could reopen the bill for broader revisions. That risk is increasing the sense that the current talks amount to a critical stretch for the crypto market structure measure.

Ethics demands and House dysfunction cloud outlook

Recent disclosures by U.S. President Donald Trump are sharpening Democratic demands for ethics restrictions in the bill, but they do not appear to have fundamentally altered the negotiations. Trump's annual disclosure for 2025 shows he made $2 billion last year, including roughly $1.4 billion tied to crypto-related income streams, while also reporting crypto holdings worth more than $100 million.

Senator Elizabeth Warren says the legislation must block the president, vice president, senior administration officials, members of Congress and their families from profiting from the crypto industry. Senator Ruben Gallego, who previously voted the bill out of committee, also says he wants enforceable ethics standards and has not guaranteed support on the Senate floor, leaving negotiators to find a compromise that still requires Trump's acceptance.

A separate U.S. Supreme Court ruling that the president can remove independent agency commissioners at will is also keeping pressure on talks over the future makeup of the Securities and Exchange Commission and Commodity Futures Trading Commission. At the same time, concerns about dysfunction in the U.S. House of Representatives are weighing on the timeline, as House leaders struggle with procedural progress and other legislative priorities, raising questions not only about final passage but also about whether Trump would promptly sign the measure if it reaches his desk.

Trump’s crypto-related earnings disclosures and the resulting ethics questions around the U.S. presidency have become a focal point in the debate over digital-asset regulation, as we previously reported. Our earlier article outlined calls for safeguards such as barring senior officials and their families from profiting from crypto businesses affected by federal policy, while noting the political resistance that has kept such measures from advancing smoothly in the Senate.

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