By Isaac • July 23, 2026 5:07 pm •
Congress finally has a merged Senate text for the biggest U.S. crypto market-structure bill in years.
It runs 616 pages and reaches nearly every major corner of the industry.
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Its best available move before the Senate leaves Washington may now fall short of passage.
Senator Cynthia Lummis released the new CLARITY Act package on July 22, combining the work of the Senate Banking and Agriculture Committees. The package includes the full legislative text and a 17-page section-by-section summary.
The bill draws operating lanes for the Securities and Exchange Commission and Commodity Futures Trading Commission. It creates registration paths for digital-commodity exchanges, brokers and dealers while defining how network tokens tied to an issuer’s managerial efforts would
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