The House Financial Services Committee has scheduled a July 14 hearing on the Federal Reserve's semi-annual Monetary Policy Report featuring new Fed Chair Kevin Warsh's first congressional testimony, followed by a July 17 hearing in New York focused on how the CLARITY Act could shape digital-asset and financial innovation. Senator Cynthia Lummis is targeting a Senate floor vote on the CLARITY Act before the August recess, with the bill requiring 60 votes to advance. The back-to-back hearings are designed to maintain momentum for the crypto market-structure legislation as the legislative window narrows.
House Financial Services Committee Schedules July 14 and July 17 Hearings
The House Financial Services Committee set a July 14 hearing on the Federal Reserve's semi-annual Monetary Policy Report, the session at which new Fed Chair Kevin Warsh is due to deliver his first congressional testimony. The committee is also planning a July 17 hearing in New York focused on how the CLARITY Act could shape digital-asset and financial innovation.
The July 17 session, held outside Washington, is designed to spotlight the industry's economic stakes and the cost of continued regulatory uncertainty. The back-to-back hearings give the bill's supporters a high-profile venue to make their case at a moment when momentum has been building but a final vote remains elusive.
Lummis Rejects Handing Digital Asset Governance to Others
Lummis has sharpened her rhetoric as the calendar tightens. She rejected the idea that the United States should let others govern technology Americans helped pioneer, stating: "The U.S. did not invent the internet and then hand it to someone else to govern. We are not doing that with digital assets either."
The Wyoming Republican has cast the coming weeks as decisive, arguing that the window to pass comprehensive crypto legislation this year is narrow and closing. She has repeatedly warned that legal uncertainty is pushing developers and crypto firms to friendlier jurisdictions, and that Congress must act before that drift becomes permanent.
The senator has also tied the bill to a broader competitiveness case, contending that clear rules would keep Bitcoin and open-source developers based in the United States rather than driving innovation, jobs, and investment offshore.
CLARITY Act Advances to Senate Floor with 60-Vote Requirement
The CLARITY Act has already advanced out of the Senate Banking Committee and been placed on the Senate legislative calendar, putting it in line for a full floor vote. The measure needs 60 votes to clear the Senate, and would then have to be reconciled with the version the House passed in 2025 before it could reach the president's desk.
Lummis has placed the more likely floor-vote window before the August recess, posturing that deadline as a forcing function. Industry advocates have echoed the urgency, warning that a missed window could delay comprehensive crypto rules for years and leave the market operating under a patchwork of state regulations.
Supporters outside Congress have continued to press lawmakers, with Michael Saylor arguing that clear rules could unlock institutional markets for BTC and related products. The next verified step is the July round of hearings, beginning with Warsh's July 14 testimony and continuing with the July 17 session on digital-asset innovation.
FAQ
What hearings did the House Financial Services Committee schedule for July?
The House Financial Services Committee scheduled a July 14 hearing on the Federal Reserve's semi-annual Monetary Policy Report featuring Fed Chair Kevin Warsh's first congressional testimony, and a July 17 hearing in New York focused on how the CLARITY Act could shape digital-asset and financial innovation.
How many votes does the CLARITY Act need to pass the Senate?
The CLARITY Act needs 60 votes to clear the Senate. The bill has already advanced out of the Senate Banking Committee and been placed on the Senate legislative calendar. Senator Lummis is targeting a Senate floor vote before the August recess, after which the measure would need to be reconciled with the version the House passed in 2025.
