Clarity Act fails to be signed on July 4, becomes critical juncture before Senate's August 7 recess

CoinFeed July 6 news, according to CoinDesk, the Clarity Act failed to be signed into law on July 4, but all parties remain optimistic about passage this year. Behind the scenes, staff are coordinating differences between the Senate Agriculture Committee and Banking Committee versions, and Senate leadership still needs to determine when to bring the bill to a floor vote. The main obstacle remains the ethics provisions. Trump's financial disclosure shows he profited approximately $1.4 billion from the crypto industry in 2025, providing a basis for Democrats to push for ethics provisions, but it hasn't changed the nature of negotiations — Senators Gallego and Alsobrooks have clearly stated they will not support the bill's passage until an agreement is reached to restrict government officials from profiting from crypto. Additionally, the Supreme Court's ruling that the president can freely fire commissioners of independent agencies adds uncertainty.