Grayscale Pushes Senate for CLARITY Vote Before August Recess

Treasury Secretary Scott Bessent also called for immediate Senate action. In an X post, he said the Senate needs to vote “NOW” on the CLARITY Act. Bessent accused Senate Democrats of delaying the bill because of pressure from Senator Elizabeth Warren and her anti-crypto allies. His comments added political weight to the push for a vote before lawmakers leave Washington.

Senator Cynthia Lummis said the Senate was still trying to secure a vote before recess. She noted that lawmakers had “one more week here in Washington” and several matters competing for floor time. Senate Republicans have also considered a procedural vote linked to the crypto bill, a step that could help set debate rules or resolve outstanding ethics language.

Grayscale framed the CLARITY Act as a competitiveness issue for the United States. The firm said capital and talent could move to markets with clearer digital asset rules. It named Singapore and Abu Dhabi as jurisdictions that have already built clearer crypto frameworks. The U.S. risks losing investment if firms cannot plan under stable laws, the letter said.

A floor vote before recess would mark the next step in the push to create federal rules for digital asset markets. Failure to advance the bill would leave the industry under the current patchwork of SEC enforcement actions and evolving agency guidance. Traders watching Washington see the Senate’s calendar as the next concrete marker. Lummis said lawmakers have one week left in session. The decision rests on whether leadership schedules the vote and whether the ethics dispute can be settled in time.