Senate Majority Leader John Thune filed cloture on 74 Trump nominations, delaying the Clarity Act. Odds of passage in 2026 have dropped below 38% as opposition mounts from Democrats and state attorneys general.
Senate Majority Leader John Thune filed cloture on a package of 74 Trump nominations Monday, pushing the Clarity Act further down the Senate calendar. The chamber is now scheduled to vote on Jay Clayton's confirmation as Director of National Intelligence on July 28, followed by the Lindsey O. Graham Sanctioning Russia Act of 2026.
"After processing this next batch of 74 Trump nominees, the Senate will have confirmed nearly every nominee available for floor consideration," Thune said. "My Senate GOP colleagues and I are also advancing legislation that's key to our shared Republican agenda."
The Clarity Act, a crypto market structure bill that has sat on the Senate calendar since early June, faces another delay. Senate aides said a floor vote is unlikely before next week. That leaves a narrow window of legislative days before the August 8 recess.
Thune acknowledged the obstacles. "There's a lot of swirl around it, on yield, some of the things that the banks care deeply about," he said. He expects a fair amendment process.
New York Attorney General Letitia James urged senators to reject the bill, calling it a threat to state oversight. She argued it would "neuter" state and local law enforcement efforts to police crypto fraud.
Democratic senators also voiced opposition, insisting the Justice Department should not be the sole ethics enforcer. They want state prosecutors to retain that power.
Industry groups pressed for passage before the recess, warning that any further delay could push the legislation into 2027.
The bill has attracted support from Goldman Sachs, Charles Schwab, BlackRock, Fidelity and Grayscale. Goldman CEO David Solomon has been vocal about the need for clear stablecoin rules, calling the act a priority. Goldman CEO backs CLARITY Act as banks fight stablecoin rewards
Despite that backing, prediction markets now put the odds of the Clarity Act passing in 2026 below 38%.
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