Senator Dave McCormick (R-PA) recently stated live on Fox Business that the Digital Asset Market CLARITY Act is on a path to being signed into law this summer.

The Senate Banking Committee advanced the bill on May 14, 2026, in a bipartisan 15-9 vote. It provides a regulatory framework splitting oversight between the CFTC for digital commodities and the SEC for securities-like tokens, including consumer protections and stablecoin provisions.

The legislation, which passed the House previously, now heads toward a full Senate vote, potential reconciliation, and the President’s desk. McCormick highlighted its importance for U.S. innovation and keeping the industry domestic.