Lummis: If Senate Lets the CLARITY Act Slip, Next Shot at Crypto Market-Structure Rules May Not Come Until 2030

With just eight voting days left for the Senate in September, the countdown is on for the Digital Asset Market CLARITY Act. Sen. Cynthia Lummis warned that if Congress fails to finish the bill now, the next meaningful window to revisit comprehensive crypto market-structure legislation could be 2030. The measure has already passed the House with broad bipartisan support, 294"134. In the Senate, progress has slowed as lawmakers clash over proposed ethics standards and provisions tied to stablecoins, including language on interest and yield. Lummis argued that delaying action would come at a steep economic cost, pointing to years of lost potential jobs, investment and tax revenue that could flow from clearer rules for digital assets. She said, "If the Clarity Act doesn't pass this Congress, the next real opportunity to bring market structure legislation back up is 2030." The next key date is Sept. 15, 2026. That is not the final passage vote. It is a cloture vote that would determine whether the Senate can begin debating the bill. Senate Majority Leader John Thune has filed the motion to start debate, but the bill will need 60 votes to overcome a filibuster. With Republicans holding 53 seats, supporters still need seven additional votes. Even if cloture is invoked, the calendar is tight. The Senate has only eight voting days in September to pass the bill before the November midterms. The political fight has also spilled into the markets. Sen. Elizabeth Warren is campaigning hard against the legislation, citing concerns about crypto industry influence, ethics and investor protection, and urging Democrats to vote no. On Polymarket, two traders have reportedly wagered about $1.5 million on the bill failing. Market-implied odds of passage have dropped to roughly 15%, down from 82% in February. Those traders expect the Senate to vote, but do not expect the bill to become law.