CLARITY Act misses July 4 target as Trump crypto disclosures sharpen ethics fight

The CLARITY Act, a major U.S. crypto market-structure bill, missed the July 4 enactment target previously cited by White House crypto adviser Patrick Witt, and attention has now shifted to Aug. 6 as senators remain in recess with no concrete public sign of progress on unresolved issues. The House passed the measure 294-134 in July 2025, the Senate Banking Committee advanced it 15-9 on May 14, and the bill was placed on the Senate Legislative Calendar under General Orders on June 1; a newer report also said it cleared markup in the Senate Agriculture Committee. Supporters still need 60 votes, meaning at least seven Democratic senators would likely have to join Republicans. Negotiations remain centered on ethics language tied to President Trump and his family’s crypto interests after disclosures showed roughly $1.4 billion in crypto-linked income in 2025 and crypto holdings exceeding $100 million. Democrats including Elizabeth Warren, Ruben Gallego and Adam Schiff have pressed for restrictions, while the White House has denied conflicts and said any rules should apply broadly rather than single out one officeholder. Reporter Eleanor Terrett said no concrete public progress has emerged on the remaining disputes as senators entered the second week of the summer recess, while letters from two law enforcement groups have also drawn attention in the talks.