The U.S. Senate is striving to advance the cryptocurrency bill in July, but agendas such as the housing bill may squeeze the time window

The U.S. Senate is trying to advance the cryptocurrency market structure bill, the "Clarity Act," in July, but the time window for the bill's passage is narrowing due to a backlog of priority agendas such as the defense authorization bill, the agriculture bill extension, and housing legislation. The Senate's schedule is tight in the coming weeks. In addition to the annual defense and agriculture bills, Trump stated on Wednesday that he would not support a major housing bill unless Congress first passes a bill requiring federal election voters to provide proof of citizenship. This housing bill also includes provisions to prohibit central bank digital currencies.

As members of Congress will leave Washington before the August recess, if the relevant bills do not advance before then, the political focus will shift to the November elections when they return, further reducing the available floor time for cryptocurrency legislation. Republican Senator Cynthia Lummis indicated that a new version of the text is expected to be released around July 4 for final review by lawmakers, with a vote planned for July. A Senate aide also mentioned that the "Clarity Act" will become one of the bipartisan priorities when the Senate reconvenes in July. However, the bill still faces multiple uncertainties, including the level of Democratic support, controversies over Trump's related cryptocurrency conflicts of interest, the priority of other significant bills, and the Senate's limited scheduling.