Today in crypto, Consensys attorney says window to pass CLARITY is narrowing, and US spot Bitcoin ETFs have logged six consecutive weeks of net inflows. Meanwhile, US Senator Elizabeth Warren questioned Meta CEO Mark Zuckerberg over his company's stablecoin plans.

Consensys attorney says the window to pass the CLARITY Act is narrowing

The window to pass crypto market legislation is “unforgiving” due to the upcoming US midterm elections season, according to Bill Hughes, the senior counsel and director of global regulatory matters at Consensys, a crypto infrastructure company.

The Digital Asset Market Clarity Act of 2025, also known as CLARITY crypto market structure legislation, must be passed before the midterm election campaign season begins, following the Summer recess. 

A HarrisX poll found that a majority of those surveyed supported the CLARITY Act. Source: HarrisX

“The Senate has only weeks to move the bill before the August recess, after which the midterm election calendar takes over,” Hughes said. 

If the bill is not passed before the August Congressional break, the chance to codify comprehensive crypto legislation into law may not come again until 2030, he warned.

Spot Bitcoin ETFs log 6th straight week of net inflows for first time in 9 months

US spot Bitcoin exchange-traded funds (ETFs) have recorded a sixth consecutive week of net inflows, marking the longest such streak since August 2025.

The current six-week run stretches from the week of April 2 through Friday, pulling in a combined $3.4 billion, according to data from SoSoValue. The strongest week came in mid-April, when inflows hit $996.38 million for the week of April 17, while the streak’s weakest showing was the week of April 2 with just $22.34 million. The most recent week logged $622.75 million.

The run marks the longest streak of consecutive net weekly inflows in more than nine months, when a 7-week ran from June 13 to July 18, 2025, drew in roughly $7.57 billion, including $2.72 billion for the week of July 11 and $2.39 billion the following week.

Bitcoin ETFs weekly inflows. Source: SoSoValue

Notably, last week ended on a sour note, with outflows of $277.50 million on Thursday and $145.65 million on Friday. Monday and Tuesday had led the week strongly, pulling in $532.21 million and $467.35 million respectively, before Wednesday's inflows slowed sharply to $46.33 million ahead of the late-week reversal.

Meta's stablecoin plans draw scrutiny

US Senator Elizabeth Warren is pressing Meta Platforms CEO Mark Zuckerberg for answers over the company’s stablecoin strategy, raising concerns about transparency and regulatory safeguards.

In a letter sent this week, Warren said Meta’s limited disclosures around its stablecoin initiatives were “deeply troubling,” pointing to the company’s earlier attempt to launch Libra — later rebranded as Diem — which faced intense regulatory opposition before being shut down.

“It is critical that Meta be transparent with Congress and the public regarding its stablecoin-related plans,” Warren wrote.

The scrutiny comes after Meta quietly expanded stablecoin payouts using USDC for select creators in the Philippines and Colombia in April.

Source: US Senate Banking Committee