CLARITY ACT UPDATE: Today’s highly anticipated CLARITY Act meeting is over—but despite some of the excitement surrounding it online, nothing was passed and no final decision was made. The event was a House field hearing in New York, not a Senate vote or legislative markup. Its purpose was to gather testimony, demonstrate industry support and pressure the Senate to move the bill forward. Representatives from Nova Labs, Bullish, WisdomTree and Coin Center argued that the United States urgently needs clear rules governing digital assets. The witnesses supported establishing a clear division of responsibility between the SEC and CFTC, replacing regulation through enforcement with predictable rules and protecting developers who create non-custodial blockchain software without controlling customer assets. However, no Democrats reportedly participated in the hearing. That is important because the bill will need bipartisan support to overcome the Senate’s 60-vote threshold. No Senate floor vote was announced, and there is no indication that the major disagreements involving ethics restrictions, developer protections and stablecoin rewards were resolved. The honest conclusion is that today’s hearing was positive publicity for crypto—but it did not represent meaningful legislative progress. The CLARITY Act remains on the Senate calendar, waiting for lawmakers to reach a compromise and schedule an actual vote. The next announcement that truly matters will not be another hearing. It will be confirmation of a bipartisan agreement and a date for the Senate floor vote. Until then, the bill remains alive—but still stuck in Washington.