Crypto legislation may finally be nearing a breakthrough in the Senate. However, it is competing for space on an increasingly crowded legislative calendar.
As lawmakers race toward the August recess, Senate leaders are juggling several major priorities. These include the SAVE America Act, the 2026 Farm Bill, the National Defense Authorization Act (NDAA), and the long-awaited CLARITY Act for digital assets.
Speaking to Fox Business, Senator Cynthia Lummis said the Senate is still targeting July for action on the CLARITY Act. This comes despite months of intense negotiations.
CLARITY Act Still on Track for July
Lummis revealed that lawmakers have been negotiating the crypto market structure bill since last Labor Day. Now, they are entering the final stages.
“We’ve been negotiating on the CLARITY Act hard-core since last Labor Day. It has been an arduous process.” Lummis said.
According to Lummis, recent revisions to the GENIUS Act created fresh complications after banks raised concerns about stablecoin-related provisions. However, she praised Senators Bill Hagerty, Ted Budd, and Thom Tillis for helping work through those issues.
Lawmakers are still ironing out details around DeFi and ethics provisions. Still, Lummis said the Senate plans to release a technical draft over the July 4 recess before moving forward.
Election Bill Faces Tough Road
The crypto push comes as President Donald Trump intensifies pressure on Republicans to pass the SAVE America Act. This is a voting reform package that would require proof of U.S. citizenship and stricter voter identification requirements for federal elections.
Trump recently canceled a bipartisan housing bill signing ceremony to pressure lawmakers, calling the election legislation a “national emergency.”
However, Lummis acknowledged that the full bill currently lacks enough support in the Senate.
“We don’t have votes to pass the full spectrum of ideas that fall under the SAVE America Act.” Lummis said.
Instead, she suggested breaking the legislation into smaller pieces. She said, “We need to smartly break up the SAVE America Act and get those components that we can get passed.”
Farm Bill and NDAA Add More Pressure
Adding to the Senate’s workload, lawmakers are also preparing to debate the 2026 Farm Bill and the annual NDAA.
Lummis said debate on the defense bill is expected shortly after lawmakers return from the July 4 recess. However, the timeline for the Farm Bill remains uncertain.
With crypto reform, election legislation, agriculture policy, and defense spending all competing for floor time, Senate leaders now face a difficult balancing act. Still, for the crypto industry, Lummis’ latest comments suggest that the CLARITY Act remains firmly on track for a long-awaited Senate vote in July.
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