The Digital Asset Market Clarity Act (H.R. 3633, commonly called the CLARITY Act) has not passed the Senate and is not law. It cleared the House 294–134 in July 2025 and the Senate Banking Committee 15–9 in May 2026. A merged Senate text was released in late July 2026. The immediate next step is a cloture vote on the motion to proceed, scheduled for Tuesday, September 15 at 2:15 p.m. ET—the day after the Senate returns from recess. This is a 60-vote procedural hurdle to even begin formal debate on the bill; it is not a vote on final passage. Republicans hold 53 seats, so it needs roughly 7 Democratic or independent votes (assuming no Republican defections). As of early September 2026, multiple Senate offices and reporting indicated the bill was “hanging by a thread,” with expectations that it would fall short of 60 votes. Prediction-market odds for 2026 passage had dropped into the mid-teens. Key unresolved issues include the ethics provision (restrictions on federal officials issuing or sponsoring tokens, DOJ-only enforcement, and a 2029 sunset), DeFi/developer liability protections, and stablecoin yield/rewards.32 If cloture fails on the 15th, the bill is widely viewed as dead for the rest of the 119th Congress. The remaining 2026 calendar is compressed by midterm campaigning, appropriations, and other must-pass items; Q4 attachment to year-end legislation is theoretically possible but considered a long shot. Failure this year would likely push comprehensive market-structure legislation to 2027 or later. In the meantime, a joint SEC-CFTC interpretive release from March 2026 continues to provide provisional classification guidance for certain assets.