Senate Majority Leader John Thune said the CLARITY Act is unlikely to pass before the August recess, citing opposition from both parties and unresolved ethics provisions.
Alpha Score of 64 reflects moderate overall profile with moderate momentum, moderate value, moderate quality, moderate sentiment.
Senate Majority Leader John Thune said the CLARITY Act is unlikely to pass before the August recess, dealing a setback to efforts to create a federal regulatory structure for digital assets.
Thune told reporters he was not confident the bill would be finished before the break. “I don’t think we’ll be able to get them done. I would like to at least get Clarity started. We’ll see where the votes are,” he said.
The comments came after Senate Republicans released a 616-page draft of the CLARITY Act following months of negotiations. The proposal aims to clarify how digital assets are regulated in the U.S. and shift oversight responsibilities.
Opposition has emerged from both sides of the aisle. Some GOP senators flagged concerns about stablecoin yield products pulling deposits from community banks. Senator John Cornyn said he shared those worries. Senator John Curtis said he would meet with Banking Committee Chairman Tim Scott to discuss the impact on local lenders. “If we’re taking loan capacity away from our banks who are in these communities – I want to make sure that we’re not hurting the very people who rely on these banks,” Curtis said.
Democrats have also voiced concerns. A group of seven senators led by Angela Alsobrooks said the Republican draft “falls short” on consumer protection, illicit finance, market integrity and conflicts of interest.
Ethics rules remain a major sticking point. The draft includes provisions restricting President Donald Trump and other federal officials from crypto activities. Republicans have been reluctant to toughen those rules. Senator Cynthia Lummis said there is no middle ground. “There’s not going to be a provision that makes opponents of the president happy that also makes the president happy,” she said.
Senator John Kennedy warned that missing the pre-recess window would reduce the bill’s chances. “If we don’t have a positive vote, before the August break, I think the odds shift against us,” Kennedy said.
Goldman Sachs, which has publicly backed the CLARITY Act, carries an Alpha Score of 51, reflecting mixed market sentiment.
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