The House Financial Services Committee is scheduling back-to-back policy hearings in July that put both traditional finance and crypto regulation squarely in the spotlight. First up is a July
The House Financial Services Committee is scheduling back-to-back policy hearings in July that put both traditional finance and crypto regulation squarely in the spotlight.
First up is a July 14 session focused on the Federal Reserve's monetary policy. That is followed on July 17 by an out-of-Washington hearing in New York dedicated to the CLARITY Act and digital asset innovation, bringing Congress directly into the centre of the U.S. financial industry.
The bill would provide long-sought jurisdictional clarity between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), while creating a regulatory framework intended to protect consumers and investors in the crypto market. More specifically, the CLARITY Act would grant the CFTC exclusive jurisdiction over digital commodity spot markets, while maintaining SEC jurisdiction over investment contract assets.
The bill establishes a regulatory framework for digital commodities, defined as digital assets that rely upon a blockchain for their value.It also exempts digital commodities on mature blockchains from SEC registration requirements if annual sales fall under a certain amount.
The legislation has already cleared the House. The House passed the CLARITY Act 294 to 134 in July 2025. On the Senate side, progress has been slower but is moving. On May 14, 2026, during a formal markup hearing, the Senate Banking Committee advanced the CLARITY Act by a vote of 15 to 9.On June 1, 2026, a new version of the Senate Banking bill was published and the CLARITY Act was placed on the Senate Legislative Calendar under General Orders, making it formally eligible for full Senate floor consideration.
The road to enactment still has hurdles. To become law, the bill must still be reconciled with the Senate Agriculture Committee's version, pass a 60-vote Senate floor vote, be reconciled with the House-passed version, and be signed by the President. With the November 2026 midterms approaching, any Senate floor vote effectively needs to happen before August 2026, when campaigning begins in earnest and the Senate's calendar closes for controversial votes.
The July New York hearing keeps that pressure alive. Industry participants are expected to testify on how the bill could shape growth and compliance across the digital asset sector.
Sources:H.R. 3633 Digital Asset Market Clarity Act, Congress.govUS Crypto Policy Tracker, Latham and WatkinsWhat Is the CLARITY Act, FinTech Weekly
