Sharplink CEO Joseph Chalom expects Congress to leave the CLARITY Act stalled until 2028, as the existing bill text faces a Jan. 3, 2027, Senate deadline.
The deadline applies to advancing the current text. If senators miss it, a future Congress would need to introduce the proposal again and negotiate a new agreement. The deadline for the existing CLARITY Act text falls on the day the 120th Congress is due to begin work.
The Digital Asset Market Clarity Act of 2025, known as H.R. 3633, would establish federal oversight for some digital-asset market activity. The House passed the measure 294-134 on July 17, 2025. The Associated Press reported that Democrats emerged from the Nov. 3 midterm elections with control of both chambers.
On Sept. 15, the Senate voted 49-50 against cloture on a motion to proceed to the bill. The procedural vote concerned whether the Senate would take up the legislation; it did not decide whether to pass it. The Senate has not advanced the bill since.
Chalom expects the measure to remain on hold until 2028. TD Cowen analyst Jaret Seiberg also sees little prospect for movement over the next two years, saying the political climate may keep an industry-backed version from advancing.
Circle and other industry participants say existing laws and agency rulemaking may still shape policy for stablecoins and tokenized stocks if the bill remains pending. Senators’ next deadline is Jan. 3, 2027, to advance the current text.
