The Senate did not reject the CLARITY Act this week. Senator Cynthia Lummis released an updated CLARITY Act draft on July 22, merging work from the Senate Banking and Agriculture committees. The result is a merged draft that resolves some committee differences without securing the votes needed for the Senate floor. Related: US Senate Has Two Days to Pass Crypto CLARITY Act Before Summer RecessExchanges can preserve flexibility in token-classification and listing systems. The CLARITY Act remains alive, and the Senate could still begin moving it before the recess.