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    CLARITY Act tracker: crypto market-structure bill news

    The CLARITY Act passed the House 294-134 in July 2025[1] and cleared the Senate Banking Committee 15-9 in May 2026.[2] On September 15, 2026, the Senate voted 49-50 on cloture, short of the 60 votes needed to start debate, and Sen. Thom Tillis entered a motion to reconsider.[3][4][5] As of October 10, 2026, no later Senate action had been recorded, and the SEC and CFTC were writing crypto rules under existing law.[6][7]

    Editor reviewedStrict sourcingUpdated CryptoTech policy

    What we know

    • The House passed H.R. 3633 by 294-134 on July 17, 2025[1]
    • The Senate Banking Committee reported the bill 15-9 on May 14, 2026[2]
    • The Senate Agriculture Committee advanced its CFTC text 12-11 on January 29, 2026[24]
    • Cloture on the motion to proceed failed 49-50 on September 15, 2026[3]
    • A motion to reconsider that vote has been entered[5]
    • The SEC proposed Regulation Crypto Assets on August 18, 2026[21]
    • The CFTC opened an advance rulemaking on crypto markets on October 5, 2026[7]

    What we don't know yet

    • Whether Senate leaders will call up the motion to reconsider and hold a second cloture vote, and when
    • Whether negotiators can agree on ethics rules for public officials that win enough Democratic votes
    • How the stablecoin yield dispute between banks and crypto firms will be settled in any final text
    • How the Senate Banking and Agriculture texts would be merged, and whether the House would accept the result
    • Whether the bill can move in the post-election lame-duck session before the 119th Congress ends
    Story status

    Story status

    State
    developing
    Started
    2025-05-29
    Timeline entries
    20
    Last entry

    Timeline data (JSON)

    This tracker follows the Digital Asset Market Clarity Act (H.R. 3633), the US bill that would divide crypto oversight between the SEC and the CFTC.[8][9] It is built from the official congressional record and agency releases, and it is updated as new actions are recorded. This page is for information only and is not financial or investment advice.

    Where things stand on October 10, 2026

    The bill is on the Senate calendar, but the Senate has not agreed to take it up.[10] On September 15, 2026, the motion to begin debate got 49 votes in favour and 50 against, short of the 60 required.[3][4] Sen. Thom Tillis entered a motion to reconsider the vote, which allows the Senate to vote again without starting over.[5] The official bill status record shows no later action as of October 10.[6]

    Law firms tracking the bill said after the vote that it was effectively dead in the near term.[11] Observers see the post-election lame-duck session as the most plausible remaining window.[12]

    How the September vote happened

    Majority Leader John Thune filed cloture on August 8, before the August recess.[13] At that point, unresolved issues included ethics rules, developer protections, the commodities section and banks’ demands on stablecoin rewards.[14] Late on Sunday, September 13, Republican leaders released updated text with new ethics provisions negotiated with the White House.[15] Supporters said it let state attorneys general enforce ethics rules on federal officials.[16] Sen. Elizabeth Warren argued it would not let them act against the President.[17] Sen. Bernie Moreno told colleagues the vote was only about whether to consider the bill, not whether to pass it.[18]

    The motion failed 49-50. The senators voting no included Collins, Hawley, Moran and Tillis, and Gallego and Alsobrooks, the two Democrats who had backed the bill in committee.[19][2] The Senate passed the GENIUS Act in 2025 after a similar setback: its first cloture vote failed 48-49, and a second succeeded 66-32 eleven days later.[20]

    Regulators move without a law

    The SEC proposed Regulation Crypto Assets on August 18, 2026, with tailored registration exemptions for crypto fundraising.[21] On October 5, the CFTC opened an advance rulemaking that would create a “crypto asset market” category of regulated exchange.[7] CFTC Chairman Michael Selig wrote that Congress had failed to send a bill to the president and that the agencies have authority to act by rule.[22] Rules adopted by agencies can, however, be reversed by a future administration or challenged in court.[23]

    Background

    For what the bill would do, see What the CLARITY Act does, explained. For how it fits with the 2025 stablecoin law, see CLARITY Act vs GENIUS Act. For the arguments on each side, see the CLARITY Act debate.

    Timeline

    20 confirmed

    1. confirmed

      CFTC opens crypto market rulemaking under existing powers[7][22]

    2. confirmed

      Senate cloture vote fails 49-50[3][4][19]

      Sixty votes were needed to begin debate on the motion to proceed.

    3. confirmed

      Tillis enters a motion to reconsider[5]

    4. confirmed

      Republicans release updated text with ethics provisions[15][16]

      Supporters say it lets state attorneys general enforce ethics rules on federal officials; opponents dispute its reach.

    5. confirmed

      Bankers associations press for tighter stablecoin yield ban[43][44]

    6. confirmed

      SEC proposes Regulation Crypto Assets[21][42]

    7. confirmed

      Thune files cloture, setting up a September 15 vote[13][14]

    8. confirmed

      Consumer groups urge senators to oppose the bill[40][41]

    9. confirmed

      Bill placed on the Senate calendar[10][39]

      Reported with the Banking Committee substitute as Calendar No. 423.

    10. confirmed

      Senate Banking Committee reports the bill 15-9[2][38]

      Two Democrats join all 13 Republicans but say floor support depends on an ethics deal.

    11. confirmed

      Bank groups say proposed yield compromise falls short[37]

    12. confirmed

      SEC and CFTC issue joint crypto interpretation[35][36]

      The interpretation sets out a token taxonomy, including digital commodities and digital securities.

    13. confirmed

      Senate Agriculture Committee advances its CFTC text 12-11[24][34]

      The Digital Commodity Intermediaries Act passes on a party-line vote.

    14. confirmed

      Senate Banking calls off markup after Coinbase pulls support[32][33]

    15. confirmed

      Michael Selig sworn in as CFTC chairman[31]

      The CFTC would become the main spot-market regulator under the bill.

    16. confirmed

      Senate receives the bill[30]

      It is referred to the Senate Banking, Housing, and Urban Affairs Committee.

    17. confirmed

      GENIUS Act stablecoin law signed[29]

      The companion stablecoin bill becomes Public Law 119-27.

    18. confirmed

      House passes the CLARITY Act 294-134[1][28]

      The same day, the House also passes the GENIUS Act stablecoin bill, 308-122.

    19. confirmed

      Two House committees approve the bill[27]

      The committees order it reported by votes of 32-19 and 47-6.

    20. confirmed

      Rep. French Hill introduces H.R. 3633[25][26]

      The bill is referred to the House Financial Services and Agriculture committees.

    Sources

    Each numbered claim is a statement we checked against the sources listed with it. Status shows how well established it is.

    1. [1]

      The House passed H.R. 3633 on July 17, 2025, by a vote of 294 to 134 (Roll no. 199). confirmedas of 2026-10-10

    2. [2]

      On May 14, 2026, the Senate Banking Committee voted 15-9 to report the CLARITY Act with a substitute amendment, with two Democrats joining all 13 Republicans. confirmedas of 2026-10-10

    3. [3]

      On September 15, 2026, the Senate rejected cloture on the motion to proceed to H.R. 3633 by 49 to 50 (Rollcall Vote No. 234), with Sen. Chris Coons not voting. confirmedas of 2026-10-10

    4. [4]

      Invoking cloture on the motion to proceed required 60 votes, three-fifths of the Senate, and would not itself have passed the bill. confirmedas of 2026-10-10

    5. [5]

      After the vote, Sen. Thom Tillis entered a motion to reconsider it, which keeps the bill procedurally alive. confirmedas of 2026-10-10

    6. [6]

      As of the official bill status record retrieved on October 10, 2026 (last updated September 17), the motion to reconsider entered on September 15 was the most recent recorded action on H.R. 3633. confirmedas of 2026-10-10

    7. [7]

      On October 5, 2026, the CFTC published an advance notice of proposed rulemaking on crypto asset transactions, including a new "crypto asset market" subcategory of designated contract market. confirmedas of 2026-10-10

    8. [8]

      According to the Congressional Research Service summary, the bill would make the CFTC the general regulator of digital commodity transactions, including digital commodity exchanges, brokers and dealers. confirmedas of 2026-10-10

    9. [9]

      According to the CRS summary, the bill gives the SEC jurisdiction over digital commodity activity by certain brokers and dealers on alternative trading systems and by national securities exchanges. confirmedas of 2026-10-10

    10. [10]

      Sen. Tim Scott reported the bill to the Senate on June 1, 2026, and it was placed on the Senate calendar as Calendar No. 423. confirmedas of 2026-10-10

    11. [11]

      Law firms tracking the bill, including Troutman Pepper Locke and Hunton Andrews Kurth, assessed after the vote that the CLARITY Act was effectively dead in the near term. reportedas of 2026-09-25· interpretation

    12. [12]

      With midterm elections on November 3, 2026, observers point to the post-election lame-duck session as the most plausible remaining window for the bill this Congress. reportedas of 2026-10-10· interpretation

    13. [13]

      Majority Leader John Thune filed cloture on the motion to proceed to H.R. 3633 on August 8, 2026, setting up a September 15 vote. confirmedas of 2026-10-10

    14. [14]

      As of August 2026, outstanding issues included ethics language, developer protections, the commodities portion of the bill, and banks' push to change the crypto rewards provisions. confirmedas of 2026-08-10

    15. [15]

      Late on Sunday, September 13, 2026, Republican leaders released updated text with new ethics provisions negotiated with the White House, which they described as their final offer to Democrats. confirmedas of 2026-10-10

    16. [16]

      Supporters said the updated text let state attorneys general enforce ethics requirements on federal officials, a key Democratic demand drawn from a framework brokered by Sens. Thom Tillis and Ruben Gallego. confirmedas of 2026-10-10

    17. [17]

      Sen. Elizabeth Warren argued on the floor that the updated text would not let state attorneys general bring enforcement actions against the President. confirmedas of 2026-10-10

    18. [18]

      Sen. Bernie Moreno told colleagues the September 15 vote was only on whether to consider the bill, not whether to pass it. confirmedas of 2026-10-10

    19. [19]

      Senators voting no on September 15 included Collins, Hawley, Moran and Tillis, as well as Gallego and Alsobrooks, the two Democrats who had backed the bill in committee. confirmedas of 2026-10-10

    20. [20]

      The GENIUS Act's first Senate cloture vote on the motion to proceed failed 48-49 on May 8, 2025; a second attempt succeeded 66-32 on May 19. confirmedas of 2026-10-10

    21. [21]

      On August 18, 2026, the SEC proposed Regulation Crypto Assets, with a one-time $5 million exemption over four years and a $75 million per-12-month exemption for certain crypto asset investment contracts. confirmedas of 2026-10-10

    22. [22]

      Chairman Selig wrote on October 5, 2026, that Congress failed to send a crypto bill to the president and that the CFTC and SEC have authority to build a crypto market structure by rule. confirmedas of 2026-10-10

    23. [23]

      Law firm analyses note that agency rules, unlike a statute, can be reversed by a future administration or challenged in court. reportedas of 2026-10-10· interpretation

    24. [24]

      On January 29, 2026, the Senate Agriculture Committee advanced its CFTC-focused market structure bill, the Digital Commodity Intermediaries Act, on a 12-11 party-line vote. confirmedas of 2026-10-10

    25. [25]

      Rep. French Hill (R-Ark.), chair of the House Financial Services Committee, introduced H.R. 3633, the Digital Asset Market Clarity Act, on May 29, 2025. confirmedas of 2026-10-10

    26. [26]

      H.R. 3633 was referred to both the House Financial Services Committee and the House Agriculture Committee. confirmedas of 2026-10-10

    27. [27]

      On June 10, 2025, the House Financial Services and Agriculture committees each held markups and ordered the bill reported, by recorded votes of 32-19 and 47-6. confirmedas of 2026-10-10

    28. [28]

      The House passed the GENIUS Act on July 17, 2025, by 308 to 122, the same day it passed the CLARITY Act. confirmedas of 2026-10-10

    29. [29]

      The President signed the GENIUS Act on July 18, 2025, and it became Public Law 119-27. confirmedas of 2026-10-10

    30. [30]

      The Senate received H.R. 3633 on September 18, 2025, and referred it to the Senate Banking, Housing, and Urban Affairs Committee. confirmedas of 2026-10-10

    31. [31]

      Michael Selig was sworn in as the 16th CFTC chairman on December 22, 2025, after Senate confirmation on December 18. confirmedas of 2026-10-10

    32. [32]

      On January 14, 2026, the Senate Banking Committee called off a planned markup of its market structure bill after Coinbase publicly withdrew its support for the draft. confirmedas of 2026-10-10

    33. [33]

      Coinbase CEO Brian Armstrong's objections to the January 2026 Senate Banking draft included what he described as a de facto ban on tokenized equities and DeFi provisions giving the government access to users' financial records. reportedas of 2026-10-10

    34. [34]

      The Senate Agriculture Committee's text, published in January 2026 as the Digital Commodity Intermediaries Act, focuses mainly on CFTC authority over digital commodity markets. confirmedas of 2026-10-10

    35. [35]

      On March 17, 2026, the SEC issued an interpretation on how federal securities laws apply to crypto assets, which the CFTC joined. confirmedas of 2026-10-10

    36. [36]

      The March 2026 interpretation sets out a token taxonomy of digital commodities, digital collectibles, digital tools, stablecoins and digital securities. confirmedas of 2026-10-10

    37. [37]

      Five banking trade groups said in May 2026 that research shows yield-earning stablecoins could reduce consumer, small-business and farm loans by one-fifth or more. confirmedas of 2026-05-04

    38. [38]

      Democratic senators who voted for the bill in the Banking Committee, including Ruben Gallego, said their committee votes did not guarantee floor support without an agreement on ethics. confirmedas of 2026-10-10

    39. [39]

      The Senate Banking Committee's substitute text, reported June 1, 2026, includes a title called the Lummis-Gillibrand Responsible Financial Innovation Act of 2026. confirmedas of 2026-10-10

    40. [40]

      On June 4, 2026, a coalition of consumer and public-interest groups led by the National Consumers League urged Senate leaders to oppose the Senate version of the CLARITY Act. confirmedas of 2026-10-10

    41. [41]

      The consumer coalition's concerns were weak anti-money-laundering requirements, unaddressed conflicts of interest for public officials, and loopholes allowing yield-like stablecoin rewards. confirmedas of 2026-10-10

    42. [42]

      The proposed Regulation Crypto Assets includes a conditional safe harbor under which a qualifying crypto asset would be deemed not subject to an investment contract. confirmedas of 2026-10-10

    43. [43]

      On September 10, 2026, nearly 80 state bankers associations joined the American Bankers Association and Independent Community Bankers of America in urging senators to use the bill to close what they call a stablecoin interest loophole. confirmedas of 2026-10-10

    44. [44]

      The bank associations warned that failing to close the loophole would cause deposit flight from community banks and reduce local lending. confirmedas of 2026-10-10

    Revision history (1)
    1. Page created.

    Created Oct 10, 2026. Last reviewed by an editor on Oct 10, 2026. Next scheduled review: Nov 10, 2026.

    Cite this page

    "CLARITY Act tracker: crypto market-structure bill news." ContentLora, updated Oct 10, 2026. https://contentlora.com/events/clarity-act-tracker

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