CLARITY Act Advances as Congress Sets July 17 Hearing

The US CLARITY Act is back in focus as lawmakers have scheduled the next key hearing on July 17, 2026. With the crypto industry still awaiting regulatory clarity, the hearing is expected to shape its future.

The hearing comes amid growing pressure from industry experts and pro-crypto lawmakers to bring long clearer rules to the market. Senator Cynthia Lummis has long been pushing for the passage of the market structure bill. Congress’s latest move aligns with Lummis’ warning that regulatory uncertainty is driving talent and innovation abroad. 

Congress moves CLARITY Act forward, sets July 17 hearing

The US crypto industry is heading toward a major regulatory development. The US House Financial Services Committee has scheduled the CLARITY Act hearing for July 17, 2026. The hearing is expected to examine how the crypto bill could influence financial innovation. Lawmakers are expected to see the effect of the bill on the blockchain and crypto spaces.

Source: Financial Services Commission

Notably, the CLARITY Act intends to bring clearer rules to the crypto market of the United States. The regulatory oversight will be split between the two main financial regulators, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).  While the SEC will oversee digital assets that function as securities, digital commodities like Bitcoin and altcoins will come under the regulation of the CFTC.

The crypto bill is also expected to address rising crypto scams and hacks. As the country intends to promote the growth of the crypto industry, while also supporting investor protection, the lawmakers eye strong anti-money laundering rules and other enforcement tools. 

Thus, the CLARITY Act is expected to incorporate provisions that aim to balance innovation and customer protection. While the US crypto industry has been grappling with uncertainty, the market structure bill is expected to bring clarity finally. 

It is also worth noting that the July 17 CLARITY Act meeting comes just days after the July 14 hearing on the Federal Reserve’s semi-annual monetary policy report. This underscores how Congress is focusing on both traditional finance (TradFi) and the crypto industry. The meeting also suggests that the bill is moving closer to its final passage.

Senator Lummis urges action on crypto bill

Significantly, Senator Cynthia Lummis has been a key voice to support the CLARITY Act. She has been urging lawmakers to pass the crypto bill while the bill was facing delays. Recently, Lummis reiterated her stance, stating that the years of uncertainty in the crypto industry could come to an end with the passage of the market structure bill. She noted that developers and crypto firms have been facing difficulty over the years due to the lack of clarity. In an X post, she wrote:

In her recent remarks, Lummis also added that software developers should not need “an army of lawyers” to understand whether their code complies with US law. She believes that the CLARITY Act could bring a solution to this problem. This is achieved through setting clear standards for crypto classification and regulation. She noted, “Software developers should not need an army of lawyers to know if their code is legal. The Clarity Act ends that absurdity.”