Clarity Act faces make-or-break Senate vote on Tuesday as crypto industry pushes for bill - CNBC

The Clarity Act is heading toward a decisive Senate vote on Tuesday, a moment that could determine whether the long-debated market-structure bill advances or stalls. The legislation has drawn sustained lobbying from the crypto industry, which has argued that clearer federal rules are needed to replace the current patchwork of enforcement-led oversight.

For markets, the vote matters less for what it does immediately than for what it signals. A procedural win would keep the bill alive and reinforce expectations that U.S. digital-asset oversight is moving toward a defined statutory framework. A failed vote would likely push the debate back to regulators and the courts, prolonging the uncertainty that has shaped how exchanges, token issuers, and institutional participants assess U.S. risk.

What to watch: the margin, since a narrow result can shape the bill's next steps, and any amendments attached before the vote. Also monitor how crypto-linked equities and tokens react — not as a prediction, but as a gauge of how much of this outcome the market has already priced in.