Crypto▼ Bearish
CLARITY Act Hits a Crunch Week: Clock Runs To Recess
Senate floor time is scarce before the August recess. An ethics dispute is blocking the CLARITY Act. If the bill stalls, the SEC is ready to set its own crypto rules.
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The Digital Asset Market CLARITY Act still isn't on the Senate's published floor schedule, and the window before the August recess is closing fast. This week is being treated as the last realistic chance for a procedural vote, people tracking the process said.
The immediate fight is procedural. Senate leadership would need to queue up cloture and other steps in time for a possible end-of-week vote. Some internal chatter points to a midweek deadline just to set up a Friday motion. The schedule has looked thin and in flux.
Outside the Capitol, crypto firms and trade groups are still leaning on senators to put the bill on the floor instead of letting it drift into recess. Backers are pushing back on claims that the bill's DeFi language would gut enforcement, arguing those readings are based on a shaky understanding of how decentralized ecosystems work, according to people familiar with the discussions.
Behind the scenes, the real snag looks familiar: ethics-related language tied to political figures. Senators are exploring a counterproposal that keeps the broader framework intact while trying to defuse the objections that could mess up the vote math, a person familiar with the discussions said.