Momentum behind the CLARITY Act is building fast. But the Senate’s top leader says the crypto bill will likely not pass before the August break.

The bill would set the first clear US rules for crypto. It would decide which agency watches over which coins. Backers finally have the support they wanted. What they still lack is time and votes from both parties.

CLARITY Act Support is Growing Fast

More than 200 crypto groups have asked the Senate to vote. They include the Blockchain Association, the Crypto Council for Innovation, and the Digital Chamber. The groups sent a letter urging fast action. Clear rules, they say, would keep crypto firms in the country.

The bill also got stronger this week. Senator Cynthia Lummis released new text that protects customers better. It would keep your crypto yours if an exchange fails. That is not what happened when Celsius and Voyager collapsed in 2022. Their customers lost access for years and got back only part of their money.

Police support is growing fast, too. One group backed the bill last week. Now the biggest has joined. The National Fraternal Order of Police, which speaks for more than 382,000 officers, endorsed the revised bill on Friday.

It said its “initial concerns have been satisfactorily addressed” after lawmakers fixed the developer protection rules.

But the Votes are Not There Yet

Here is the problem. The bill needs 60 votes in the Senate. Republicans hold only 53 seats. So at least seven Democrats must vote yes. Right now, none will.

This is not a new bill. The House already passed it in July 2025. Back then, 78 Democrats voted for it. The bill would hand most crypto oversight to the CFTC, a market regulator, rather than the SEC. But the Senate is a tougher room.

The real fight is about President Donald Trump. He made about $1.4 billion from crypto last year, according to his own disclosure. Most came from his $TRUMP meme coin and his firm World Liberty Financial. Democrats call that a conflict of interest.

Republicans added new ethics rules to ease those worries. But Democrats say the rules are full of holes. Only Trump’s Justice Department could enforce them. Its acting head, Todd Blanche, used to be Trump’s personal lawyer. States are blocked from stepping in.

There is more. A loophole protects coins created before an official takes office. That covers the $TRUMP coin, launched days before Trump was sworn in. And the rules would end in 2029 anyway.

So the two Democrats who once backed the bill now say no. One of them, Angela Alsobrooks, called the plan “wild and unserious and stone crazy.” Party leader Chuck Schumer has also told Democrats to focus on Trump before the elections. That raised the political cost of a yes vote.

Time is Running Out

The calendar is tight. The Senate works for one more week in August. Then it leaves until September 14. After that, budget and defense bills fill the schedule.

Senate leader John Thune said he hopes to at least get the bill started. But he does not expect a final vote in time. “I don’t think we’ll be able to get them done,” he told reporters.

Bettors are losing faith, too. On the betting site Polymarket, the odds of passage this year fell to about 37% on Friday. In the spring, they were above 80%.

The research firm Galaxy also cut its odds to 50%, from 75% in May. In the Friday update, the research firm cut further to just 30%.

Some insiders still hope. They blame banks for dragging out the bill. They believe its best chance comes after the November elections.

The votes are there, but the election politics are louder. The latter will dissipate after November and that’s a narrow but very possible window,” Fortune reported, citing Ron Hammond, head of policy at trading firm Wintermute.

Until the bill passes, crypto rules sit on orders that a future president could undo. After November, Democrats could win more seats and change the deal. The next two weeks may decide whether the Senate acts in time.

Source: BeInCrypto