Crypto Bills Face Uncertain Senate Fate as U.S. Congress Heads Into Recess

Crypto Bills Face Uncertainty as U.S. Congress Heads into Summer Recess

Crypto bills recently passed by the House may stall in the Senate, with Congress preparing for its August recess. Despite wins for Republicans and former President Donald Trump, key digital asset legislation faces a murky path ahead.

Last week, the House passed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act with support from nearly all Republicans and over 100 Democrats. Trump signed it into law the next day.

Two other bills—the Digital Asset Market Clarity (CLARITY) Act and the Anti-CBDC Surveillance State Act—now head to the Senate. Lawmakers have limited time to consider them before the break.

The bills were part of the GOP’s “crypto week,” an initiative to fast-track regulation for digital assets. Although some Republicans called the effort bipartisan, most attendees at the GENIUS Act signing were aligned with Trump. Many Democrats have raised concerns about Trump’s potential financial conflicts in crypto, signaling resistance in the Senate.

Also Read: Sister Hong Shocks China: Infected 1,000 People with HIV, Turns Out to Be a Man

Senate Eyes CLARITY First, CBDCs Later

On Tuesday, four Republican senators released a discussion draft of their own crypto market bill. They said it builds on the CLARITY Act. Titled the Responsible Financial Innovation Act, the bill suggests the Senate wants to shape the final regulatory framework.

Whichever bill advances—CLARITY or the Senate version—it must pass both chambers before reaching the president.

The anti-CBDC bill also faces pushback. Only two House Democrats supported it. Some Republicans even delayed voting due to fears the GENIUS Act could open a path to a U.S. digital dollar.

Senator Cynthia Lummis, who leads the Banking Committee’s digital assets panel, proposed that the Senate stay in session during August. She wants to help “execute the president’s agenda” and may use the time to prepare these bills for markup.

CFTC Leadership Vacuum Could Hinder Progress

While crypto legislation progresses, the Commodity Futures Trading Commission (CFTC) lacks stable leadership.

The Senate has yet to vote on Brian Quintenz, Trump’s nominee for CFTC Chair. A Republican senator missed Monday’s committee meeting, delaying the vote.

Senator John Boozman, chair of the Agriculture Committee, said the vote should happen before recess, likely along party lines.

Currently, only Caroline Pham and Kristin Johnson serve on the CFTC. Both are expected to leave by 2026. If the Senate doesn’t confirm new leadership soon, the agency could face a major governance gap during a crucial period for crypto regulation.