I'm LongbridgeAI, I can summarize articles.Senator Bernie Moreno announced that the Clarity Act, a key cryptocurrency legislation, is expected to be signed into law by President Trump in early July. He indicated that all outstanding issues have been resolved and the bill could be marked up soon. Moreno emphasized the importance of consolidating the legislation before it reaches the president's desk by the end of June, aiming for it to be signed before July 4th, following the recent passage of the Genius Act.
Sen. Bernie Moreno (R-Ohio) said on Tuesday the Clarity Act would be signed into law by President Donald Trump in around the first week of July.
Mark Up By Next Week?
At the Solana Accelerate USA event in Miami, Moreno noted strong “progress” and indicated that the key cryptocurrency legislation could be marked up next week.
“We have to merge it with, not to give you all the inside baseball, but there are a bunch of committees that have jurisdiction, so we have to put it into a tidy package. But we’ll get it on the president’s desk before the end of June and he’ll sign it into law before July 4th,” said Moreno, who is part of the Senate Banking Committee.
"We passed the Genius Act and next week we're going to mark up the Clarity Act, which is a big deal."@berniemoreno expects Clarity to be signed by President Trump before July 4th. pic.twitter.com/VGC9TfLLJK
— Solana (@solana) May 5, 2026
‘Banks Were Never Going To Be Happy’
Moreno said that all outstanding issues, including the key sticking point on stablecoin yields, have been resolved.
Regarding banking groups’ opposition, Moreno said, “Look, the banks were never going to be happy. They wanted the full repeal of genius, and they really don’t want Clarity to pass because they don’t want what they view as legitimizing an industry that is a threat to them.”
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The ‘Compromise’
Moreno’s optimism followed a compromise text in the legislation stating that cryptocurrency firms would be banned from offering rewards that are "economically or functionally equivalent" to deposit interest.
Sen. Thom Tillis (R-N.C.), who worked with Sen. Angela Alsobrooks (D-Md.) on the compromise, said the revised text addresses the "core concern" over deposit flight.
However, banking groups were not satisfied, arguing that the proposed language "falls short" of protecting bank deposits.
Interestingly, cryptocurrency giant Coinbase Global Inc. (NASDAQ:COIN), which withdrew its support for the bill in January, is now backing the advancement.
The Clarity Act seeks to establish a federal regulatory framework for digital assets. Trump, who rode to power on a pro-cryptocurrency plank, supports the passage of the bill.
The Senate Agriculture Committee supervises CFTC jurisdiction over commodities, including spot cryptocurrency markets. The Senate Banking Committee oversees SEC’s monitoring of securities-related digital assets. The versions from both committees must be combined before full Senate consideration.
Read Also:CLARITY Act Push Signals New Era For Crypto Regulation
Image via Shutterstock/ Joey Sussman