The U.S. Congress has entered last-minute negotiations to pass the CLARITY Act, a digital asset market structure bill, ahead of the August recess.

On Aug. 5 local time, blockchain media outlet U.Today reported that Republican and Democratic aides held back-to-back meetings to narrow remaining differences. The possibility of reaching a legislative compromise on digital assets is also being raised again.

The negotiations are seen as a turning point in whether the bill can be advanced before the Senate goes into recess. Aides from both parties focused over the past 24 hours on sorting out the bill’s key disputes. The bill, which the Senate has discussed for a long time, focuses on how to divide roles among federal regulators.

The revived momentum stems from a decision by Senate Majority Leader John Thune. Thune on the afternoon of Aug. 5 gave negotiators more time without moving to proceed with a cloture motion. The negotiating team therefore secured a few more hours to narrow differences that have blocked progress on the bill.

Senator Cynthia Lummis (신시아 루미스), who chairs the Senate digital assets subcommittee, said she remains confident a vote is still possible before the August recess. "I don’t think we’re leaving Friday. I think it will go through the weekend," she said. She added that the CLARITY Act is among the bills to be handled along with other legislation that must be voted on before recess.

Lummis said she has negotiated with Democrats for 11 months and that the bill grew by more than 300 pages at Democrats’ request during that process. "I believe we will have a vote on the CLARITY Act," she said. "Now it’s time to put people’s positions on the record."

Opposition in the Senate has not been fully resolved. Senator Josh Hawley (조시 홀리) has been cited as the first Republican lawmaker to publicly oppose pushing ahead with the Senate crypto market structure bill in its current form. Hawley said he is siding with concerns among voters in Missouri.

Hawley has raised the bill’s potential impact on local finance. Agricultural groups and communities in Missouri have voiced concerns that it could place burdens on small banks. Bipartisan talks continue, but the bill must manage internal Republican differences as well as reach compromise with Democrats to clear the Senate.

Two issues now stand out. The first is whether the two parties can actually settle the remaining disputes before recess. The second is whether, even if talks produce an outcome, it can secure enough support at the full Senate voting stage. Because the bill would set the broad framework for U.S. digital asset regulation, the outcome of these talks is expected to be a gauge of the pace of future market structure legislation.