Grayscale pushes Senate for CLARITY Act vote before August break

The House passed its version in July 2025 by a 294–134 vote, with 78 Democrats backing the bill. Any Senate changes would need approval from both chambers before the measure can reach President Donald Trump’s desk.

A dispute over ethics provisions has become the main obstacle to moving the bill forward. Republican Sen. Thom Tillis and Democratic Sen. Ruben Gallego have put forward a compromise that would let state authorities enforce restrictions on federal officials who issue or sponsor digital tokens, rather than giving the U.S. attorney general sole enforcement power. The question is whether that deal can attract the seven Democratic votes needed to clear the 60-vote threshold for advancing most legislation, given Republicans hold only 53 seats.

Treasury Secretary Scott Bessent has joined the push, calling on lawmakers to vote on the CLARITY Act, and accused Senate Democrats of delaying under pressure from crypto critics including Sen. Elizabeth Warren. The Trump administration’s involvement adds weight to the campaign as negotiators try to resolve the remaining disagreements.

Grayscale warned that prolonged regulatory uncertainty could push investment and technical talent toward jurisdictions with more predictable rules. The company cited Singapore and Abu Dhabi as markets that have established clearer crypto frameworks. The argument echoes a broader industry effort to frame market structure legislation as a matter of U.S. competitiveness.

No clear crypto price moves have been linked to the letter. Traders are watching whether Senate leaders formally schedule a vote and whether the ethics compromise garners enough support. Failure to act before the recess would push the debate deeper into the legislative calendar, where spending deadlines and other priorities could make floor time harder to find.