Senator Jon Husted from Ohio threw his support behind the Digital Asset Market Clarity Act, emphasizing the need for clear regulation to keep the U.S. at the forefront of crypto innovation. Despite his backing, the bill’s likelihood of passing this year has dropped sharply to just 30%.
Legislative Hurdles and Stakeholder Stakes
Husted, appointed to the Senate in 2025, voiced his position on social media early Tuesday, urging colleagues to act before the August recess. The CLARITY Act aims to establish a full federal framework dividing oversight between the SEC and the CFTC. It categorizes tokens into three groups, granting the CFTC control over spot digital commodity markets while the SEC supervises tokens resembling securities. The House passed its version by a wide margin in mid-2025, and the Senate Banking Committee has advanced a draft, but the full Senate faces a tough negotiation over a merged text.
One major sticking point remains ethical restrictions on government officials and their families from engaging in digital asset activities, a clause that has stalled bipartisan agreement even after a revised draft was released on July 22. The Senate has roughly two weeks to resolve these issues before the summer break.
Galaxy Research recently lowered the bill’s passage odds from 50% to 30%, reflecting growing uncertainty. This slowdown comes as the crypto sector watches Washington closely, especially after recent volatility triggered by delayed legislation and external market shocks. For comparison, Bitcoin recently took a hit amid regulatory delays and global market pressures, showing how policy uncertainty directly impacts digital assets.
This piece is for informational purposes only and does not constitute financial advice.
