U.S. Senator Cynthia Loomis stated that if Congress fails to advance the Clarity Act during its current term, the next realistic window for digital asset legislation in the United States may not open until 2030. She believes that time is running out, and continued delays will leave developers and law enforcement in a state of prolonged uncertainty regarding regulations.
Midterm elections compressed time
Loomis points out that for such regulatory legislation to be implemented, political resources, committee consensus, and executive branch support are typically all in place. With the 2026 US midterm elections approaching, Congress's space for addressing contentious issues is shrinking.
She believes that if the bill fails to pass both houses of Congress before the end of the current term, the subsequent procedures will be reset, and the legislative process will need to restart. She also mentioned that the Republican Party may lose its majority after the midterm elections, which would further complicate the process.
The bill has not yet completed its final review.
The Clarity Act is seen as a significant attempt to establish a federal regulatory framework for the U.S. crypto industry. As it stands, the Senate Banking Committee has passed a revised version by a bipartisan vote of 15 to 9.
However, the bill has not yet reached the final vote stage in the full Senate, and the House of Representatives and the Senate have not yet reached a final, unified text that can be submitted to the president for signature. This means that although the bill has made progress, it is still some distance away from officially taking effect.
- The Senate Banking Committee has passed the revised version.
- The vote was 15 to 9.
- The final unified text has not yet been formed.
Delays will affect developers and law enforcement.
Loomis stated that if legislation remains stalled for an extended period, developers will continue to lack a safe haven and clear guidance, and the industry's compliance environment will struggle to stabilize. At the same time, law enforcement agencies will lack comprehensive tools to combat illegal activities due to unclear rules.
The report noted that the bill is not without supporters in Washington. U.S. Treasury Secretary Scott Bessant and Securities and Exchange Commission Chairman Paul Atkins are among those listed as supporters, but whether the bill will pass smoothly remains uncertain.
