Coinbase's Ryan VanGrack Says CLARITY Act Is 'On the One-Yard Line'
Coinbase's Ryan VanGrack Says CLARITY Act Is 'On the One-Yard Line'
Three Fights Still Blocking Cloture
Three disputes have held up the Democratic votes needed for floor passage. President Trump's June financial disclosure showing approximately $1.4 billion in crypto-related income during his first year back in office transformed an abstract ethics debate into a concrete conflict-of-interest fight, with Democrats demanding enforceable recusal provisions for officials with significant crypto holdings before they will commit to floor votes.
Section 604 of the bill, which would shield software developers from money transmitter liability for crimes committed by users of their decentralized protocols, has drawn opposition from four law enforcement organizations and nearly 100 Catholic leaders, arguing the provision creates dangerous enforcement gaps.
Senators Mark Warner and Catherine Cortez Masto have made their floor votes conditional on law enforcement signing off on that language, a condition that has not yet been met.
Stablecoin yield restrictions represent the third sticking point, with disagreement persisting over whether activity-based rewards on idle stablecoin balances constitute prohibited interest payments under the bill's current compromise text.
Lummis Pushes August Deadline as Bitcoin Watches CLARITY Act
Lummis posted on July 11 that "momentum like this will not come around again this decade," a statement that carried weight given her role as chair of the Banking Subcommittee on Digital Assets and her years of direct involvement in drafting the bill.
Her warning echoes earlier statements that a failure to pass before the August 7 recess could push the next realistic legislative window to 2030, as midterm campaign pressures consume the fall calendar.
As of July 13, Polymarket market participants remain cautious about the bill's prospects. On Polymarket, the contract asking whether the CLARITY Act will be signed into law by December 31, 2026, is trading at 46%, implying the market sees passage as slightly less likely than not.
The contract has attracted more than $1.6 million in trading volume, reflecting continued uncertainty over whether Congress can pass the legislation before the end of the year.
Bitcoin has responded to legislative signals throughout the bill's progress, briefly touching $81,000 on the day of the May 14 committee vote before retracing as passage uncertainty returned.
Citi has tied its $143,000 base-case Bitcoin target directly to the passage of the CLARITY Act, projecting $15 billion in additional net ETF inflows once the bill clears Congress.
Friday's House hearing does not move the Senate vote count directly, but it signals that both chambers are treating the pre-recess window as live rather than symbolic, and that the industry's most prominent compliance voices are publicly betting on resolution before August 7.
This article has been published in ccn.com via Yahoo News.
Coinbase's Ryan VanGrack Says CLARITY Act Is 'On the One-Yard Line'
Coinbase's VanGrack says CLARITY Act momentum is unmistakable with passage imminent. Three Democratic holdouts over ethics, Section 604, and stablecoin yield remain unresolved. Lummis ...
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