政策 多位消息人士告诉 ,《澄清法案》的新草案可能会在本周下降,但挑战仍然存在。 2026 年 7 月 12 日,下午 6:30 美国国会大厦(Jesse Hamilton/) 关于《数字资产市场清晰度法案》失效的传言被严重夸大了。然而,加密货币行业还没有走出困境,原因我们稍后会解释。 您正在阅读《加密状态》,这是一份 时事通讯,探讨加密货币与政府的交叉点。单击此处 新草案来袭 叙事 多位熟悉《清晰法案》讨论的人士上周四告诉 ,立法者打算在本周公布加密市场结构法案的更新版本。新文本结合了参议院银行和农业委员会之前通过的法案,是这些机构就各项条款进行谈判的结果。 为什么这很重要
和 的杰西·汉密尔顿 (Jesse Hamilton) 多次指出的那样,《澄清法案》在 2026 年通过国会并送交总统签署的时间已经不多了。新草案的发布可能表明取得了进展,但如果关键的分歧领域没有得到解决,那么进展不会像行业希望的那么大。 分解它 上周, 报道称,熟悉《澄清法案》谈判的人士预计该法案的新草案将于本周发布。消息人士告诉 ,更新后的法案文本将结合银行和农业委员会的不同版本,并包括约 70 页的附加内容。截至发稿时,它不包括道德条款或关于《澄清法案》中剩余的一些有争议问题的协议,这意味着它尚未准备好进行投票。 本新闻稿的其余部分将是猜测和推测。参议院多数党领袖约翰·图恩上个月告诉 Punchbowl News,他愿意将该法案提交给 7 月份的全体投票。有传言称,该法案可能会在 7 月 20 日或 7 月 27 日这一周提交参议院审议。
如果宣布投票,可能会出现全场压力,试图确保该法案在参议院获得至少 60 票,这意味着至少需要 7 名民主党人愿意支持该法案——如果有共和党人投反对票或无法参与投票,则支持人数会更多。 预计像 Stand With Crypto 这样的组织会表示他们将获得投票,并且业界会注意到加密政治行动委员会手头有数亿美元。 但 2026 年中期选举即将到来——11 月 3 日,距离现在还不到四个月——议员们在休完夏季休会并进入最后的竞选阶段后,将不得不面对自己的支持者和侧翼。 这意味着美国总统唐纳德·特朗普和他从加密货币中赚取的 14 亿美元将成为投票的关键因素。更具体地说,如果没有道德条款,就不可能有足够的民主党人在参议院投票支持该法案。一位知情人士表示,如果下周发布的文本甚至不包含解决道德问题的占位符,这甚至可能对该法案获得两党的全面支持产生反作用。
这意味着特朗普仍需要签署道德协议。 上周采访的几位消息人士表示,白宫最近没有像夏季早些时候那样参与,但另一位人士在 7 月初告诉 ,这可能只是等待,看看所有其他悬而未决的问题是否首先得到解决。 对于该法案的支持者来说,一个光明的一面是:假设总统没有在本通讯提交至周六凌晨 12:00 之间的某个时间否决办公桌上的住房法案,那么一项禁止美联储在至少四年内发行央行数字货币的条款将生效。业内人士担心,如果参议院推进该法案,众议院议员可能会推动将 CBDC 禁令纳入 Clarity,这将进一步加剧谈判进程和时间表的紧张。但这个问题目前应该得到解决,至少到 2030 年为止,并将其纳入住房法案。 本周 星期二 世界标准时间 14:00(美国东部时间上午 10:00)美联储主席凯文·沃什 (Kevin Warsh) 将在众议院金融服务委员会作证。 周三
世界标准时间 13:30(美国东部时间上午 9:30)参议院情报特别委员会将举行杰伊·克莱顿 (Jay Clayton) 国家情报总监提名听证会。 世界标准时间 14:00(美国东部时间上午 10:00)美联储主席凯文·沃什 (Kevin Warsh) 将在参议院银行委员会作证。 世界标准时间 14:00(美国东部时间上午 10:00)众议院金融服务委员会将就消费者金融保护局举行听证会。 星期四 世界标准时间 14:00(美国东部时间上午 10:00)参议院银行委员会将就消费者金融保护局举行听证会。 周五 众议院金融服务委员会的数字资产小组委员会将在纽约就《澄清法案》举行听证会。 如果您对我下周应该讨论的内容有想法或疑问,或者您想分享任何其他反馈,请随时发送电子邮件至 nik@coindesk.com 或通过 Bluesky @nikhileshde.bsky.social 找到我。 您还可以加入 Telegram 上的群组对话。 下周见! 简讯《加密清晰度法案》2026 年选举
Policy
Several sources told that a new draft of the Clarity Act may drop this week, but challenges remain.
Jul 12, 2026, 6:30 p.m.
4 min read
Make preferred on
Make preferred on
U.S. Capitol Building (Jesse Hamilton/)
Rumors of the Digital Asset Market Clarity Act's demise have been greatly exaggerated. The crypto industry isn't out of the woods yet, however, for reasons we'll get into.
You’re reading State of Crypto, a newsletter looking at the intersection of cryptocurrency and government. Click here to
New draft incoming
The narrative
Multiple individuals familiar with the Clarity Act discussions told last Thursday that lawmakers intend to unveil an updated version of the crypto market structure bill this week. The new text combines the bills previously passed out of committee by the Senate Banking and Agriculture panels, and is the result of those respective bodies negotiating over various provisions.
Why it matters
As this newsletter and 's Jesse Hamilton have both pointed out repeatedly, time is running short for the Clarity Act to wind its way through Congress and to the president's desk for a signature in 2026. A new draft being released could indicate progress, but if the key areas of disagreement haven't been resolved, it won't be as much progress as the industry hopes for.
Breaking it down
Last week, reported that individuals familiar with the Clarity Act negotiations expect a new draft of the bill to circulate this week. The updated bill text will combine the different versions from the Banking and Agriculture Committees and include some 70 additional pages, sources told . What it will not include, as of press time, is an ethics provision or agreements on some of the remaining contentious issues in the Clarity Act, meaning it's not yet ready for a vote.
The rest of this newsletter is going to be conjecture and speculation. Senate Majority Leader John Thune told Punchbowl News last month he was willing to put the bill up for a floor vote in July. Rumors suggest the bill may go to the Senate floor during the week of July 20 or July 27.
If a vote is announced, there will likely be a full-court press to try and make sure it has at least 60 votes in the Senate, meaning at least seven Democrats will need to be willing to support the bill — more, if any Republicans vote against it or are unable to make it to the vote.
Expect organizations like Stand With Crypto to say they'll score the vote, and the industry to make note of the hundreds of millions of dollars the crypto political action committees have on hand.
But the 2026 midterm election is coming up quite soon — Nov. 3, so less than four months from now — and lawmakers will have to face their own base and flanks after they break for the summer recess and go into the final campaign swing.
That means that U.S. President Donald Trump and the $1.4 billion he made off crypto will be a key factor in the floor vote. More specifically, if there isn't an ethics provision, it's unlikely that sufficient Democrats will vote for the bill in the Senate. If the text that drops next week doesn't even include a placeholder to address the ethics portion, that may even be counterproductive to getting full bipartisan support for the bill, an individual said.
That means that Trump will still need to sign off on an ethics agreement. Several of the sources spoke to last week said the White House had not been as engaged recently as it had earlier in the summer, but another individual told in early July that it may just be a matter of waiting to see whether all the other outstanding issues are resolved first.
One bright side for the bill's proponents: Assuming the President did not veto the housing bill sitting on his desk sometime between this newsletter's filing and 12:00 a.m. on Saturday, a provision banning the Federal Reserve from issuing a central bank digital currency for at least four years will have taken effect. There was concern from industry players that House lawmakers might push to include a CBDC ban in Clarity if the Senate advanced the bill, which would further strain the negotiation process and timeline. But that issue should be resolved for now through at least until 2030, with the inclusion in the housing bill.
This week
Tuesday
14:00 UTC (10:00 a.m. ET) Fed Chair Kevin Warsh will testify before the House Financial Services Committee.
Wednesday
13:30 UTC (9:30 a.m. ET) The Senate Select Committee on Intelligence will hold Jay Clayton's nomination hearing for Director of National Intelligence.
14:00 UTC (10:00 a.m. ET) Fed Chair Kevin Warsh will testify before the Senate Banking Committee.
14:00 UTC (10:00 a.m. ET) The House Financial Services Committee will hold a hearing on the Consumer Financial Protection Bureau.
Thursday
14:00 UTC (10:00 a.m. ET) The Senate Banking Committee will hold a hearing on the Consumer Financial Protection Bureau.
Friday
The House Financial Services Committee's digital assets subcommittee will hold a hearing in New York on the Clarity Act.
If you’ve got thoughts or questions on what I should discuss next week or any other feedback you’d like to share, feel free to email me at nik@coindesk.com or find me on Bluesky @nikhileshde.bsky.social.
You can also join the group conversation on Telegram.
See ya’ll next week!
NewslettersState of CryptoClarity ActElection 2026