Crypto’s Pulse: Current Landscape and Future Prospects

Multiple sources informed Decryptnews that a revised draft of the Clarity Act may be released this week, although obstacles still persist.

The rumors surrounding the potential end of the Digital Asset Market Clarity Act appear to be overstated. Nevertheless, the cryptocurrency sector still faces hurdles that we’ll discuss.

Upcoming Draft

The Narrative

Several individuals familiar with the discussions regarding the Clarity Act informed Decryptnews last Thursday that lawmakers are expected to present an updated version of the cryptocurrency market structure legislation this week. The new document amalgamates the bills that had previously passed out of committee by the Senate Banking and Agriculture panels and results from negotiations among those committees regarding various provisions.

Why It Matters

Breaking It Down

Last week, Decryptnews reported that sources familiar with the negotiations of the Clarity Act expect a new draft of the bill to circulate this week. The updated text will merge the different versions from the Banking and Agriculture Committees and include approximately 70 additional pages, sources told Decryptnews. However, as of the time of publication, it will not contain an ethics provision or resolutions on some of the remaining contentious points in the Clarity Act, indicating it is not yet ready for a vote.

If a vote is scheduled, there will likely be a concerted effort to ensure it garners at least 60 votes in the Senate, meaning at least seven Democrats will need to be willing to back the bill—more if any Republicans oppose it or cannot attend the vote.

Organizations like Stand With Crypto are expected to announce that they will score the vote, and the industry will take note of the hundreds of millions of dollars that crypto political action committees have available.

However, the 2026 midterm elections are approaching rapidly—on November 3, less than four months away—meaning lawmakers will have to consider their own bases and factions after the summer recess and as they head into the final campaign phase.

Consequently, U.S. President Donald Trump and the $1.4 billion he has earned from crypto will play a crucial role in the floor vote. More specifically, if an ethics provision is not included, it is unlikely that enough Democrats will support the bill in the Senate. If next week’s text does not even offer a placeholder for addressing the ethics portion, it could hinder bipartisan support for the bill, according to one individual.

Thus, Trump will still need to approve an ethics agreement. Several of the sources Decryptnews consulted last week mentioned that the White House had not been as actively involved recently as it was earlier in the summer, though another source indicated to Decryptnews in early July that it might simply be a matter of waiting to see if all outstanding issues are resolved first.

This Week

Tuesday

— 14:00 UTC (10:00 a.m. ET) Fed Chair Kevin Warsh will testify before the House Financial Services Committee.

Wednesday

— 13:30 UTC (9:30 a.m. ET) The Senate Select Committee on Intelligence will hold Jay Clayton’s nomination hearing for Director of National Intelligence.

— 14:00 UTC (10:00 a.m. ET) Fed Chair Kevin Warsh will testify before the Senate Banking Committee.

— 14:00 UTC (10:00 a.m. ET) The House Financial Services Committee will hold a hearing on the Consumer Financial Protection Bureau.

Thursday

— 14:00 UTC (10:00 a.m. ET) The Senate Banking Committee will hold a hearing on the Consumer Financial Protection Bureau.

Friday

— The House Financial Services Committee’s digital assets subcommittee will hold a hearing in New York on the Clarity Act.

If you have thoughts or questions regarding what I should cover next week or any other feedback, feel free to email me at nik@decryptnews.com or find me on Bluesky @nikhileshde.bsky.social.

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See you all next week!