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The U.S. crypto industry could face another four years of regulatory setback if Congress fails to pass the CLARITY Act this session. Senator Cynthia Lummis has warned that if lawmakers miss this chance, then the bill may not return until 2030. The warning comes as crypto companies, developers, and investors continue to wait for clear rules for the industry.
Why Is Senator Lummis Warning About a 2030 Delay?
According to Lummis, the current Congress may be the crypto industry’s best chance to pass the long-awaited CLARITY Act. The bill has already received strong bipartisan support, passing the House in a 294-134 vote.
Recently, the Senate Banking Committee approved an updated version of the bill in a 15-9 bipartisan vote, bringing it one step closer to becoming law.
However, Lummis warns that with the 2026 midterm elections approaching, the time to act is very limited. So, if the bill fails to pass both chambers of Congress before the current term ends, the legislative process would effectively restart, forcing lawmakers to begin the process again in a new Congress.
Because of this, Lummis believes that if Congress misses this opportunity, another good chance to pass the CLARITY Act may not come until 2030.
What Happens If the CLARITY Act Doesn’t Pass?
Lummis also warned that delaying action would leave crypto developers without clear legal protections.
At the same time, regulators and law enforcement agencies would lack modern tools to address fraud, market manipulation, and emerging risks in digital asset markets.
Political uncertainty is another concern. Some analysts expect Republicans could lose seats in the upcoming midterms, potentially making crypto legislation a lower priority in future congressional sessions.
SEC Chair Paul Atkins Remains Optimistic
Despite Lummis’ warning, SEC Chair Paul Atkins remains optimistic. Speaking with Fox Business, Atkins said he believes Congress will ultimately pass the CLARITY Act and that President Trump will sign it into law.
“I have confidence that Congress will adopt the CLARITY Act and that the President will be able to sign it.”
According to Atkins, the legislation would provide clear regulatory foundations for digital assets while helping keep crypto innovation and investment inside the United States.
Meanwhile, prediction market platform Polymarket estimates a 58.5% chance that the CLARITY Act will be signed into law in 2026.