‘Disappointing’ — crypto advocates react to delay in CLARITY vote
The Senate has delayed action on the CLARITY Act until a cloture vote in September, after Majority Leader John Thune filed to bring it to the floor. The move disappointed crypto advocates and industry leaders, especially because the delay leaves only about 50 days before the 2026 midterm elections, reducing the bill’s chances of passing. Senator Cynthia Lummis said she was frustrated but would keep pushing for a vote. Coinbase executives also called the delay disappointing but said September is still the chance to “finish the job.” Bipartisan talks reportedly continued, but no agreement emerged on Democrats’ demands for tougher ethics rules, including issues tied to Donald Trump’s crypto holdings. Banking critics also warned the bill could unfairly benefit crypto firms by allowing interest-like payments to stablecoin holders. Despite the setback, prediction markets still assign meaningful odds to Senate action this year, though final passage would still require another House vote and then Trump’s approval.
