Lummis Says CLARITY Act Text Coming 'in Next Few Days'

Sen. Cynthia Lummis said Tuesday she will introduce CLARITY Act bill text "in the next few days," marking the latest step in the Senate's push to pass a crypto market structure law before its August recess.

"We've been working on the Clarity Act every day for 10 months, and we'll introduce bill text in the next few days, it's time to land this plane," the Wyoming Republican wrote on X. She framed the legislation around "helping law enforcement fight illicit finance, passing consumer protections and keeping these markets onshore in the US."

Lummis did not specify an exact release date for the bill text.

A Bill Under Deadline Pressure

The post comes as the Senate returns from recess with a narrowing window to act. The chamber has roughly three weeks to clear a 60-vote floor threshold before the bill lapses for the year at the August 7 recess deadline.

The CLARITY Act has moved through several stages this year, starting with the Senate Banking Committee's 309-page draft released in May. The bill then reached the Senate floor last month, with the House preparing to move quickly on its own version once the Senate acts.

Lummis has been pressing for a floor vote, and the House scheduled a field hearing for mid-July as part of that parallel track.

Democratic Support Still Uncertain

Passing the bill requires Democratic votes to clear the 60-vote threshold, and that math remains unsettled. Only two Democrats, Sens. Ruben Gallego and Angela Alsobrooks, have been locked in as supporters so far, while other Democrats have voiced concern over President Trump's disclosed crypto-linked income.

Banking industry groups have also pushed back on the bill's stablecoin yield provisions, arguing the current language doesn't sufficiently prevent stablecoins from substituting for bank deposits ahead of a House hearing scheduled for July 17.