CLARITY Act Text Set to Drop July 17 With No Democrats on Board; Needs 7 Votes to Clear 60-Vote Senate Threshold

According to Bitcoin.com News, the Trump-backed CLARITY Act text is set to be released on July 17 following a meeting with the president, but currently has no Democratic support. Sen. Bernie Moreno (R-Ohio) confirmed the timing, stating "We'll do that right after the meeting." Democrats withhold votes due to disputes over ethics language addressing Trump's business interests in crypto; Sen. Ruben Gallego (D-Ariz.) called Republican provisions "very weak" and insufficient for consumer protection.

The bill requires 60 Senate votes to pass, and Republicans hold 53 seats, meaning at least 7 Democrats must cross over for passage before the Aug. 8 recess deadline. Senate leaders aim for a floor vote during the week of July 20, marking a final push after missing the earlier July 4 target.