According to CoinMeta, the agenda of the U.S. Senate on Monday did not include discussions regarding the digital asset market. The bill needs to be passed by Friday; otherwise, it will proceed into the August recess. The bill has already been approved by the House of Representatives and aims to delineate the regulatory responsibilities of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding cryptocurrencies. The Senate Majority Leader stated that they plan to submit the bill for consideration before the recess. Former U.S. Defense Secretary Mark Esper referred to this as a matter of national security. Grayscale, Stand, with, Crypto, Coinbase, and the Executive Chairman of Strategy have urged the Senate to advance the voting process. Galaxy Research has lowered the probability of completing legislation on CLARITY Act by 2026 from 50% to 30%. The Attorney General of New York State, Letitia James, has called on Congress to strengthen cryptocurrency regulation, stating that the pending bill may weaken state-level law enforcement against digital asset fraud.