Senate Punts Clarity Act Vote to September as Democrats Hold Out
The Senate will not vote on the Clarity Act before its August recess, pushing the crypto market structure bill to September and narrowing the window before midterm campaigning intensifies. Majority Leader John Thune said Democrats are blocking a floor vote for now, though he expects to bring it up after lawmakers return. The delay reflects difficulty lining up the 60 votes needed, plus lingering disputes over stablecoin rewards, anti-money-laundering safeguards, and ethics rules tied to President Trump’s crypto holdings. A still-unreleased addendum could require Trump to divest from crypto-related businesses and may offer tax-deferral benefits. If the bill fails, SEC Chair Paul Atkins has said the agency could write its own crypto rules, a fallback the industry dislikes.
