Fate of 3 major US crypto and CBDC bills hangs in limbo as Congress nears recess

As the US Congress prepares to adjourn for its August recess, the fate of two major digital asset bills—the Digital Asset Market Clarity (CLARITY) Act and the Anti-CBDC Surveillance State Act—remains uncertain.

Despite passing the House with Republican support, the US crypto and CBDC bills now face an uphill battle in the Senate, where Democrats have signaled resistance.

The urgency stems from Republicans’ “crypto week” push, which saw three bills advance, including the GENIUS Act—a stablecoin regulation bill signed into law by President Donald Trump last week.

However, the remaining US crypto and CBDC bills risk stalling as lawmakers prioritize recess over further legislative action.

House advances US crypto and CBDC bills, but Senate roadblocks loom

Last week, the House passed the CLARITY Act and the Anti-CBDC Surveillance State Act with largely Republican support, though Democrats remain skeptical. The CLARITY Act seeks to define which digital assets qualify as securities, while the anti-CBDC bill aims to prevent the Federal Reserve from issuing a digital dollar without congressional approval.

“The CLARITY Act is a critical step toward regulatory certainty for crypto markets,” — Rep. Patrick McHenry (R-NC), House Financial Services Committee Chair, in a statement.

However, only two Democrats backed the anti-CBDC bill, and reports suggest some Republicans initially hesitated over fears the GENIUS Act could enable a backdoor CBDC.

Senate GOP pushes alternative bill, complicating crypto and CBDC legislation

Four Republican senators unveiled a discussion draft titled the Responsible Financial Innovation Act, which they claim improves upon the House’s CLARITY Act. This move suggests the Senate may rewrite rather than adopt the House’s version, further delaying progress.

“Our bill builds on the House’s work but addresses gaps in consumer protection and market integrity,” — Sen. Cynthia Lummis (R-WY), in a press release.

With the Senate’s August recess approaching, time is running out. Sen. Lummis has proposed extending the session to address nominations and potentially advance the US crypto and CBDC bills—but Democratic opposition remains a hurdle.

CFTC leadership vacuum adds to regulatory uncertainty

Amid the US crypto and CBDC bills debate, the Senate has yet to confirm Brian Quintenz as CFTC chair, leaving the agency understaffed. A delayed committee vote, caused by a Republican absence, has stalled the nomination.

“We expect a party-line vote before recess, but delays could leave the CFTC without a full leadership team,” — Spokesperson for Sen. John Boozman (R-AR), Senate Agriculture Committee Chair.

Only two of five CFTC commissioner seats are currently filled, raising concerns about the agency’s ability to enforce regulations—especially if the US crypto and CBDC bills eventually pass.

Key points

• The CLARITY Act and Anti-CBDC Surveillance State Act face Senate scrutiny after House passage.

• Senate Republicans are drafting an alternative market structure bill, potentially sidelining the House’s version.

• Partisan divides and recess timelines threaten to delay US crypto and CBDC bills into 2025.

• CFTC leadership gaps could weaken oversight of future digital asset regulations.

With Congress’s recess days away, the US crypto and CBDC bills hang in the balance—leaving the industry in regulatory limbo.