Galaxy Research: CLARITY Act could land on Trump's desk for signature as soon as August

Galaxy Research Director Alex Thorn said the CLARITY Act—a U.S. bill aimed at regulating the cryptocurrency market—could reach President Donald Trump for signature as early as August. The Senate Banking Committee advanced the legislation on Thursday on a 15–9 vote, sending it to the full Senate. The measure is designed to establish a comprehensive regulatory framework for the structure of the U.S. digital-asset market. During the markup, Sen. Ruben Gallego said he backed moving the bill out of committee but stressed that his vote should not be read as final support. Banking Committee Chair Tim Scott said a bipartisan compromise led to the adoption of five amendments offered by Sen. Cynthia Lummis. In the final committee vote, Gallego and Sen. Angela Alsobrooks, both Democrats, supported advancing the bill, while signaling they were not committing to support it in a full Senate vote. Next, the Banking Committee text must be reconciled with a version previously approved by the Agriculture Committee. Senate Majority Leader John Thune is reportedly preparing an extended floor debate expected to run about a week. Thune said that, if the timeline holds, the CLARITY Act could be sent to Trump in August after final coordination between the Senate and the House of Representatives. Thorn added that the committee vote indicates the bill still has a path to bipartisan backing. He also pointed to the cross-party dynamics around Gallego and Alsobrooks as a factor that could improve the bill's odds of eventual adoption. Key issues remain unresolved, led by an "ethics clause" that would restrict individuals connected to senior public officials from holding or profiting from digital assets. Provisions touching decentralized finance (DeFi) and elements tied to the Blockchain Regulatory Certainty Act are also expected to face further negotiations. Thorn said passage of the CLARITY Act could represent a historic inflection point for innovation and investor protection in the U.S. digital-asset market, with an impact comparable to the Securities Act of 1933 and the Exchange Act of 1934. This is not investment advice.