President Donald Trump is scheduled to meet with several Republican senators at the White House on Thursday for a specific agenda: clearing the path for the Senate’s crypto market structure bill, the CLARITY Act, toward a vote before Congress breaks for the August recess. According to a report by Politico, the meeting is part of a final push to pass legislation that could reshape the US crypto landscape.
Senator Bernie Moreno said lawmakers will brief Trump on the bill’s contents and its ‘pathway to success.’ A senior Senate Republican aide confirmed that Senator Cynthia Lummis will also attend. ‘We’re going to talk about the entirety of the bill. The president is deeply engaged on this bill… he’s really driving innovation that I think will come to fruition,’ Moreno said.
Racing Against the Recess Calendar
The momentum is no coincidence. Senate Republicans are racing to pass the CLARITY Act before lawmakers leave for the August recess - a period many legislators view as the best window before midterm election campaigns increasingly draw attention. Senator Thom Tillis expressed hope that remaining issues could be resolved this weekend so the bill reaches the Senate floor on time.
Lummis, in an interview with Fox Business on Wednesday, said a revised draft of the bill would be introduced in the coming days and anticipated the bill reaching the Senate floor next week. Several issues remain under negotiation: conflict-of-interest provisions, protections for non-custodial software developers, and rules regarding stablecoin-related rewards. Senate Majority Leader John Thune previously confirmed a vote would be held before recess, though without a specific date.
The 60-Vote Hurdle and Looming Conflict-of-Interest Concerns
The biggest obstacle is mathematical: the bill requires 60 votes to pass, meaning Republicans need Democratic support - following the House passing its own version last year. However, several Democratic senators have made Trump himself a condition. Chris Murphy, Jeff Merkley, and Chris Van Hollen are pushing for the final bill to explicitly bar the president, vice president, members of Congress, senior executive branch officials, and their immediate families from profiting off crypto businesses impacted by the regulation.
‘There is no reason to pass a new regulatory scheme for crypto if that scheme does nothing to stop Trump’s corruption,’ Murphy said at a July 14 press conference, tying his criticism to Trump’s financial interests in World Liberty Financial and other crypto ventures. Trump has denied any wrongdoing.
Prediction Markets Weigh In
Optimistic sentiment is clearly reflected in prediction markets. On Kalshi, the probability of the bill receiving a Senate vote before recess surged to 79%, up sharply from 68.8% the day before. Even so, the chances of the bill actually becoming law this year remain at 36%. On Polymarket, the probability of the CLARITY Act being signed into law in 2026 stood at 39%. On X, the WatcherGuru account, whose post garnered 11,749 likes, also highlighted the meeting, while Cointelegraph noted that on July 17, the US House Financial Services Committee held a field hearing on how the CLARITY Act could unlock financial innovation. The odds may be climbing, but the gap between ‘getting a vote’ and ‘being signed into law’ remains wide - and the coming weeks will determine how quickly that gap closes.
Source: crypto.news.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
