CLARITY Act heads into July with back-to-back House hearings

The House Financial Services Committee scheduled two hearings tied to the CLARITY Act and federal policy for digital assets on July 14 and July 17. Federal Reserve Chair Kevin Warsh will testify July 14 at the Fed’s semi-annual Monetary Policy Report. The committee will hold a July 17 session in New York focused on how the CLARITY Act could affect digital-asset and financial innovation.

The July 14 hearing is the Fed’s regular appearance before Congress, marking Warsh’s first congressional testimony as Fed chair. Lawmakers are expected to address inflation, interest-rate policy and the Fed’s views on stablecoins and central-bank tools. The July 17 hearing is designed to examine the economic stakes for crypto firms and developers and the effects of regulatory uncertainty.

The CLARITY Act advanced out of the Senate Banking Committee and is listed on the Senate legislative calendar. Passage on the Senate floor would require 60 votes to overcome a filibuster. If the Senate approves a version of the bill, negotiators would need to reconcile that text with the House version passed in 2025 before it could be sent to the president.

Sen. Cynthia Lummis has pushed for a Senate floor vote before lawmakers leave for the August recess, describing the coming weeks as a narrow window to complete action. She has argued that unclear federal rules are prompting developers and firms to locate overseas and that Congress should act to keep Bitcoin and open-source developers in the United States. Lummis told colleagues, “The U.S. did not invent the internet and then hand it to someone else to govern. We are not doing that with digital assets either.”

Industry groups and investors have lobbied Congress, urging clear federal rules. Supporters say defined market-structure rules could enable institutional Bitcoin products and reduce the risk of inconsistent state-level regulations. Investors including Michael Saylor have publicly urged senators to move quickly on clarity for crypto markets.

Supporters intend to use the July hearings to present their case to senators and market participants. The hearings will precede any floor action in the Senate and are scheduled as lawmakers consider both monetary-policy topics and proposals to set federal rules for digital assets.