The Digital Asset Market Clarity Act has formally moved to the United States Senate Legislative Calendar after clearing the Senate Banking Committee in a 15–9 bipartisan vote on May 14. The administrative step was completed by June 1, placing the bill one stage closer to full Senate consideration.
The calendar entry does not set a floor vote date, but it allows Senate leaders to schedule debate at any time. Lawmakers now face a narrow window before the July 4 recess, and supporters warn that missing this opportunity could push the bill into a more crowded, election-season calendar.
Senator Cynthia Lummis called the bill “very close to completion” and urged continued momentum. The legislation would establish a federal market-structure framework for digital assets, resolving a long-standing jurisdictional dispute between the SEC and CFTC. It also includes a provision requiring congressional approval before the Federal Reserve could issue a retail central bank digital currency.
The bill’s progress has drawn sharp criticism from JPMorgan Chase CEO Jamie Dimon, who argued that it gives crypto firms bank-like powers without adequate safeguards, anti‑money‑laundering rules, or Bank Secrecy Act compliance. Meanwhile, Galaxy Digital has executed a $10 million institutional prediction market trade tied to the bill’s passage odds, and Coinbase describes the measure as almost final.
A floor vote would require at least 60 votes to overcome a filibuster. If the Senate passes a version that differs from the House bill approved in July 2025, the two chambers would need to reconcile differences before sending the final text to the president.
