Senate Delays CLARITY Act Vote, Pushing Crypto Bill to September

Senate leadership decided yesterday not to hold a floor vote on the CLARITY Act, the key crypto market structure bill. The legislation will now be taken up in September when the Senate returns from recess.

Hun Kim, CEO of the Crypto Council for Innovation, said the postponement was disappointing but the direction has not changed. “Every day without such a framework pushes American users and builders offshore and leaves consumers at risk,” Kim said in a statement. “CCI will keep working with Senators on both sides of the aisle, their staff, and the Administration until the Clarity Act is signed into law.”

Coinbase CEO Brian Armstrong, one of the industry's strongest advocates, said both the crypto industry and the banking sector already compromised. The main obstacle, he said, was a group trying to block or stall the legislation.

Punchbowl News reported that some Republicans had pushed for a vote even if it meant defeat, to get lawmakers on the record. Democrats warned that doing so would kill the bill, and Republicans “blinked,” the outlet said.

James Thorne, chief market strategist at Wellington Altus, said the delay was a clear win for Senator Elizabeth Warren, who opposes crypto innovation. “The progressive left anti innovation team wins again,” Thorne said.

Political dynamics, not policy, drove the decision. The banking industry has lobbied hard against the bill, fearing competition from a clear regulatory framework for digital assets. On the left, the delay is tied to midterm politics, according to people familiar with the discussions.

Crypto supporters have not declared defeat. The bill will be reconsidered in September. The delay underscores the difficulty of passing digital asset legislation in a divided Congress, where political calculations often override the substance of the policy.