Merged Clarity Act eyes week of July 20. Draft grows 70+ pages. Ethics fight remains.

A unified Digital Asset Market Clarity Act draft could land next week. Backers target a Senate vote the week of July 20.

The text adds 70+ pages. Committees pushed more consumer safeguards.

This is a 60-vote test. Recess squeezes the calendar.

The ethics clash is central. Democrats want crypto-conflict bans for top officials. Several say no vote without a deal. State AG enforcement was floated. Talks on that slowed.

Procedural math is tight. Sixty votes are required to end debate. Two Democrats who advanced the bill warn their final votes hinge on ethics language. See the ethics dispute and floor mechanics in Coinspeaker’s report on the ethics provision and advancing a floor vote.

The White House sent a letter Thursday. It said Democrats had not submitted minority picks for SEC and CFTC seats. Democrats last month accused the administration of bypassing normal nomination talks. The White House has not joined the latest talks. It has not signed off on the draft.

Time is scarce. Three July weeks and one August week remain. A defense bill may crowd the floor. Passage odds under this window are outlined in Coinspeaker’s timing analysis.

One bright spot emerged. Senator Ron Wyden backed developer protections. He supported the Blockchain Regulatory Certainty Act section. It shields builders who do not hold user funds from money-transmitter rules. DeFi groups have prioritized BRCA throughout talks.

Even with Senate action, the House must agree. GOP infighting limits movement. President Trump recently rejected a bipartisan housing bill. He demanded voting-rule changes first. These structural hurdles are detailed in Coinspeaker’s review of DAMCA delays.

What investors should track:

• Draft release timing next week
• Final ethics language and votes
• BRCA inclusion for developer clarity
• Floor time versus defense bill
• House pathway and White House stance