The bill that would settle who regulates crypto in the United States is now in line for a floor vote. On June 1, 2026, the Digital Asset Market Clarity Act of 2025, the CLARITY Act, was added to the US Senate Legislative Calendar, which makes it eligible for full floor debate and a vote. That is the furthest it has traveled in the Senate, and it follows the 15-9 Senate Banking Committee vote on May 14, 2026. Being on the calendar is not the same as being scheduled, and being scheduled is not the same as being law. A floor vote, reconciliation with the House version, and President Trump's signature all still stand ahead of it. If you read that crypto regulation "passed," this is the version that survives a second look.
Update: June 3, 2026
Two things moved since this piece first published on May 30.
The bill cleared a procedural gate. On June 1, 2026, the CLARITY Act was placed on the Senate Legislative Calendar, the step that makes a bill eligible for floor debate and a vote. EconoTimes counts this as the fifth of nine procedural steps on the path to becoming law, which is a useful reminder that "on the calendar" is closer to the middle of the process than the end. A bill can sit on the calendar without ever being called for a vote, so the next real signal is whether Senate leadership schedules floor time.
The industry brought heavier backing. The Blockchain Association sent an open letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer this week, urging swift passage. Its weight comes from the signatories: 160 former national-security, intelligence, and law-enforcement officials, who argue that clear US rules pull digital-asset activity onshore where it can be monitored, rather than leaving it on offshore platforms. That reframes the bill from a markets question into a security one, which is a pitch aimed squarely at the senators who do not trade crypto.
What has not changed is the part that matters. A floor vote has not been scheduled. The House and Senate are still not working from identical text, so reconciliation is still owed. And the President has not signed anything. A calendar slot is progress you can point to. It is not a law. The background below holds, with dates brought current.
What does the CLARITY Act actually do?
It sorts digital assets into three buckets and hands each to a regulator.
Tokens tied to a blockchain network would count as digital commodities under the Commodity Futures Trading Commission, the CFTC. Tokens that behave like investment contracts would count as securities under the Securities and Exchange Commission, the SEC. Stablecoins would sit under shared supervision. The fight is over jurisdiction. Today a token can be claimed by either agency depending on who is asking, and that ambiguity has driven enforcement actions, court fights, and decisions about where firms build.
Two sections got named. According to EconoTimes, Sections 404 and 406 tighten investor safeguards while keeping capital-raising open for blockchain companies, the dual goal backers keep returning to: protect buyers without choking off how compliant firms raise money.
Supporters frame it both ways at once. Senator Cynthia Lummis calls it a consumer-protection measure and a shield for American developers. Without the bill, she warned, customers of a bankrupt exchange have no guaranteed right to their own assets and would join a creditor line behind Wall Street firms and lawyers, and developers stay exposed with no legal protections. The industry's lobbying arm, the Digital Chamber, is pushing both the CLARITY Act and the separate GENIUS Act, calling them "smart, bipartisan, and long overdue."
What moved it now?
A committee win, then a calendar slot, with a public shove from the Treasury behind both.
The House did its part first. It passed the CLARITY Act on July 17, 2025 by a 294-134 bipartisan vote. The bill then spent close to a year grinding through the Senate, in pieces, across two committees. The Senate Agriculture Committee advanced its own version in January, alongside a companion measure called the Digital Commodity Intermediaries Act. On May 14, 2026, Banking passed its part 15-9. On June 1, 2026, the bill reached the Senate Legislative Calendar, which is what opened the door to a floor vote.
The political pressure is loud. Treasury Secretary Scott Bessent used a White House appearance to press both chambers. "The most important thing we can do is to make digital assets come into the United States. Make the U.S. the home," he said, urging lawmakers to "get CLARITY done." He took a shot at lightly regulated offshore platforms, calling them the "wild, wild west," and tied much of crypto's scams and chaos to unclear rules outside the country. Bessent drew one hard line on what the bill is not: a government-issued digital dollar. "There will be no Central Bank Digital Currency," he said, calling a CBDC "the first step toward tracking."
What does it not settle?
A calendar slot settles little on its own. Three gates remain, and any one can stall the bill.
First, a full Senate floor vote, which has not been scheduled. A bill can sit on the Legislative Calendar for weeks or months before leadership calls it up, or never. Second, reconciliation between the House and Senate versions, because the two chambers are not working from identical text. Third, the President's signature.
Here is what reaching the calendar does not tell you. It does not move price, it does not set the SEC-CFTC line, and it does not start a clock anyone is bound to. EconoTimes treats the calendar as the fifth of nine steps toward passage, which puts the bill past the committee stage but with most of the floor process still ahead. The 160-official letter from the Blockchain Association adds outside pressure, not a vote. Real progress, well short of done.
What are we watching?
The Senate floor. Now that the bill is eligible for a vote, the clearest signal is whether leadership schedules floor time and a final vote. Eligible to be called up is not the same as called up. No floor vote, no law this round.
Then the reconciled text. The two versions have to merge, and the details decide everything: how a "digital commodity" is defined, where the SEC-CFTC line actually falls, and what Sections 404 and 406 require in practice. The margins (294-134 in the House, 15-9 in Banking) point to real bipartisan support, but committee counts and floor counts are different counts.
Watch the lobbying, too. The Blockchain Association's letter, signed by 160 former national-security and law-enforcement officials, is aimed at moving senators who do not care about token prices but do care about where this activity sits. Whether that argument lands shows up in floor scheduling, not in press releases. The thing to track is the calendar, not the rhetoric.