Senate Delays CLARITY Act Vote; Grayscale Sees Limited Disruption

Senate Majority Leader John Thune has filed a cloture motion on the motion to proceed to the CLARITY Act. The Senate is expected to hold the vote on Sept. 15, one day after lawmakers return. Republicans hold 53 seats, meaning at least seven Democrats would need to vote yes to reach the 60-vote threshold required for cloture.

The bill would establish federal rules for digital asset markets and clarify jurisdiction between the Securities and Exchange Commission and Commodity Futures Trading Commission. It also addresses digital asset exchanges, intermediaries, and tokenized assets.

Pandl, head of research at Grayscale, said the absence of a clear federal framework could limit new investment and capital formation in the United States, and could push companies to operate in jurisdictions with clearer rules. The CLARITY Act also faces disputes over stablecoin yield provisions and ethics language. Negotiations between lawmakers and the White House continue as senators prepare to return in September.