New Clarity Act Draft Set to Drop This Week, Sources Say

July 12, 2026 — Lawmakers plan to unveil an updated version of the Digital Asset Market Clarity Act this week, according to multiple sources familiar with the negotiations. The new draft combines bills previously approved by the Senate Banking and Agriculture committees, but key disagreements remain unresolved as the 2026 midterm elections approach.

Immediate Details & Direct Quotes

The updated Clarity Act text will merge the different versions from both Senate committees and include approximately 70 additional pages, sources told CoinDesk. However, the draft will not contain an ethics provision or agreements on several contentious issues still dividing lawmakers.

“The rest of this newsletter is going to be conjecture and speculation,” the CoinDesk report noted, acknowledging the uncertainty surrounding the bill’s path forward.

Senate Majority Leader John Thune told Punchbowl News last month he was willing to bring the bill to the Senate floor for a vote in July. Rumors suggest the vote could occur during the weeks of July 20 or July 27, but no official schedule has been confirmed.

Sources indicated that without an ethics provision, sufficient Democratic support in the Senate remains unlikely. If the upcoming text doesn’t include even a placeholder for the ethics portion, it could prove counterproductive to securing bipartisan backing.

Market Context & Reaction

As of July 12, 2026, the crypto industry faces a narrowing window for the Clarity Act to navigate Congress and reach the president’s desk. The 2026 midterm election is scheduled for November 3, leaving less than four months before lawmakers break for summer recess and enter campaign season.

President Donald Trump and the $1.4 billion he reportedly made from crypto will be a key factor in the floor vote. Sources told CoinDesk that the White House has been less engaged recently compared to earlier this summer, though one individual suggested it may be a matter of waiting for other outstanding issues to resolve first.

Organizations like Stand With Crypto are expected to score the vote, and the industry will highlight the hundreds of millions of dollars crypto political action committees have on hand. Ethos provision remains a critical sticking point for Democrats.

Background & Historical Context

The Clarity Act has been a focus of crypto policy discussions throughout 2026, with industry advocates pushing for regulatory clarity around digital asset market structure. The bill’s path through Congress has faced repeated delays and negotiations between Senate committees.

On a positive note for the bill’s proponents, if President Trump did not veto the housing bill before Saturday, a provision banning the Federal Reserve from issuing a central bank digital currency (CBDC) for at least four years will have taken effect. Industry players had feared House lawmakers might push to include a CBDC ban in the Clarity Act, which could have strained negotiations further. That issue appears resolved through at least 2030.

What This Means

The Clarity Act’s timeline is critically compressed. If the bill reaches the Senate floor, it will need at least 60 votes, requiring seven Democrats to support it — more if any Republicans vote against it or are absent.

The upcoming hearings this week on crypto and financial regulation will provide additional signals about the bill’s prospects. The House Financial Services Committee’s digital assets subcommittee will hold a hearing in New York on Friday specifically addressing the Clarity Act.

Investors and industry participants should monitor whether the new draft includes any ethics framework, as this will likely determine the bill’s bipartisan viability. Without Democratic support, the Clarity Act faces an uphill battle before the November election.

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