U.S. cryptocurrency legislation is once again under time pressure. Senator Cynthia Lummis stated that if Congress fails to pass the CLARITY Act before the end of this term, the next realistic opportunity to revive the bill may not come until 2030.
Both chambers have made existing progress.
She believes that the current Congress may be the best opportunity to push the bill through. As the 2026 midterm elections approach, the time available for Congress to address cryptocurrency legislation is shrinking. If the bill is not passed before the end of this Congress, the process typically must be restarted in the next Congress.
The CLARITY Act previously received bipartisan support in the House of Representatives, passing with 294 votes in favor and 134 against. Recently, the Senate Banking Committee also approved an updated version with a bipartisan vote of 15 to 9, moving the bill closer to becoming formal legislation.
Delay will affect developers and law enforcement tools.
However, Lummis warned that the current pace of progress does not mean the outcome is guaranteed. If this window is missed, it remains uncertain whether future Congresses will continue to prioritize cryptocurrency legislation.
She stated that if the bill remains stalled, crypto developers will continue to operate in a legal gray area without clear protections. Regulators and law enforcement agencies will also lack appropriate tools tailored to the digital asset market, making it difficult to promptly address fraud, market manipulation, and emerging risks.
The SEC Chair still believes the bill will pass.
In contrast to Lummis’s urgent stance, SEC Chair Paul Atkins expressed greater optimism about the bill’s prospects. In an interview with Fox Business, he said he believes Congress will ultimately pass the CLARITY Act, and that President Trump will sign it into law.
Atkins believes that this legislation will establish a clearer regulatory foundation for digital assets and help keep crypto innovation and investment within the United States. According to data from the prediction market platform Polymarket, the probability of the CLARITY bill being signed into law by 2026 is approximately 58.5%.