CLARITY Act Heads Toward Senate Floor Vote With July 4 Final Text Release, Says Lummis

Senator Cynthia Lummis indicated that the final version of the CLARITY Act would be released around the July 4 holiday period. Meanwhile, lawmakers are getting ready to move digital asset market structure legislation forward in the U.S. Senate.

CLARITY Act’s Final Version Expected On July 4

Lummis said that talks over the bill are in their final stages and have been underway for months in an interview with Fox Business’ Maria Bartiromo.

“We’ve been negotiating on the CLARITY Act hardcore since last Labor Day,” Lummis said. “It’s been an arduous process,” she remarked.

She added that lawmakers have spent “thousands of hours” dedicated to addressing cross-curriculum issues. It includes concerns raised during the negotiations of the GENIUS Act and objections from the banking industry by the lawmakers, Lummis noted.

🚨.@SenLummis this morning on @MorningsMaria talking Clarity Act vote.

"We are finally to the point where we are going to put out the text over the July 4th and give people one last really thorough look at the bill. And then, we are moving in July." pic.twitter.com/yvnwcfXXKn

— Joe Jackson 🇺🇸 (@Joe_Jacksonn) June 24, 2026

Lummis says the senators are now getting close to publishing a final form, which they’ll put out for public comment.

“We’re finally to the point where we’re going to put out a text over the July 4th and give people one last really thorough look at the bill,” she said. “And then we’re moving in July,” the Senator added about a Senate floor vote.

Lummis also said Senate leadership is trying to get floor time for the bill next month. In response to questions about the legislative calendar, Lummis said that she was working with Senator Thune to get time on the July agenda for the CLARITY Act.

Lummis Refutes Dimon’s Claims On The Crypto Market Structure Bill

The comments follow criticisms by banking industry leaders of parts of the proposed framework. Moreover, she referenced remarks made by JPMorgan CEO Jamie Dimon. He had contended that the bill would enable crypto providers to provide rewards that are similar to interest-bearing products, but without the protections associated with banks.

Lummis dismissed the notion that that’s what legislators were doing, saying they had already taken them into account. “With all due respect, Mr. Dimon is mistaken about the CLARITY Act. He needs to read it over July 4th,” she declared.

The Senator referred to Section 301 of the law, which he noted “closed what he saw as a loophole.” Moreover, she noted that the bill includes extra anti-money laundering measures.

Lummis said the CLARITY Act will clarify crypto firms’ rewards programs do not constitute banking services and therefore comply with the needs of consumers.

“The criticism that the banks had is that they didn’t want the payment based on a balance or something that looked like interest,” she said. Sen. Lummis added, “And so that was changed to allow for rewards that are not attached to a balance.”

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