CLARITY Act on Senate Calendar After House Passage but Misses White House July Target

The Digital Asset Market CLARITY Act, which defines when a token counts as a security, sits on the Senate calendar after the House passed the measure in July 2025 and the Senate Banking Committee advanced its version in a 15-9 vote in May. ” Polymarket prices 2026 passage at 53 percent. Sen.

Kirsten Gillibrand (D-NY) stated on the same stage that the bill would not reach the president’s desk until August. Massachusetts securities regulator William Galvin called the measure a “recipe of disaster,” warning it would deregulate penny stocks and gut state investor protections.

According to David Nage, portfolio manager at Arca, the bill’s substance is 80 percent to 85 percent finished, with remaining debate centered on rules barring officials from profiting from crypto businesses they oversee.

Nage’s base case still sees a floor vote in mid-to-late July, already past the White House deadline. The opposition runs deeper than optics, though, as scrutiny of President Donald Trump’s family crypto ventures has made the conflict-of-interest language charged. Robinhood Markets issues tokenized stocks abroad and runs a prediction markets business.

U.S. stocks to overseas customers, according to Bloomberg. When the GENIUS Act set federal rules for stablecoins last year, Visa and Mastercard each fell 5 percent to 6 percent in a single session as traders weighed the threat to their payment networks.

Blockchain was supposed to put Wall Street’s middlemen out of business. Instead, the middlemen are racing to build it. Tokenized assets trade around the clock and can be lent out or posted as collateral, freeing up capital that sits idle today.