With two days until the scheduled September 15 vote on the Digital Assets Market Clarity Act, passage appears unlikely after a cancelled voting week. Senator Cynthia Lummis blames Democrats for the delay, warning that if the bill fails, they will own the consequences. Polimarket odds sit at 23%, down from below 20% but still indicating uncertain outcome. Bitcoin’s August rally from $60,000 to $80,000 faces fear that without the act, the rally may turn bearish. Industry figures argue institutional investment requires regulatory guardrails.
Only two days remain for the scheduled September 15 vote on the Digital Assets Market Clarity Act, but no signs of passage exist after the cancelled voting week. Senator Cynthia Lummis has argued that if the CLARITY Act fails, “Democrats own what comes next.”
According to Lummis, Democrats helped shape the legislation through more than 100 proposed changes, making those efforts wasted if the bill does not pass. She stated, “They wrote the fix. They must pass it.” Without the law, consumers would lack clear federal protections, mandatory disclosures, and rules to delist bad actors.
The crypto market recently saw Bitcoin rise 20% from around $60,000 to $80,000. However, fear, uncertainty, and doubt persist that if the CLARITY Act fails, this rally could turn bearish.
CK Zheng, a former Credit Suisse risk executive, argued that large institutions are waiting for regulatory guardrails before committing significant capital to crypto. He said, “The formal passage of the Clarity Act into law will be the ultimate catalyst, sparking a new bull market as institutional allocators race to gain exposure.”
Senate Republicans released a 630-page legislative amendment to H.R. 3633, including changes negotiated over August recess. Still, these do not appear to be the final compromise needed for Democratic support.
Patrick Witt, executive director of the Trump administration’s digital-assets advisory council, warned that if the procedural vote fails, the legislation’s next opportunity may be unclear. He urged everyone to remain at the negotiating table and continue the process.
President Donald Trump met with advisers on September 11 to discuss proposed ethics provisions for the act. Witt described the session as optimistic.
Prediction market odds on Polymarket sat at 23% at press time, up from below 20% but still below 50%, indicating the bill’s passage hangs in the balance.
