One day left before recess. The CLARITY Act needs 60 votes to advance. Republicans hold 53 seats, requiring at least seven Democrats. BlackRock, Fidelity, and Goldman Sachs back the bill. Prediction markets now give it 27% odds.
The Senate has a single day to advance the CLARITY Act before lawmakers leave Washington for the August recess. Supporters are hunting for 60 votes to clear a procedural hurdle, a threshold that requires at least seven Democrats to cross the aisle.
Stand With Crypto, a group focused on digital-asset policy, urged supporters on X to call their senators. “This is it. One more day to get the CLARITY Act moving before recess. The window is still open. Call your senators now,” the group wrote.
Senate Banking Committee Chairman Tim Scott (R-S.C.) pushed for a vote during an Aug. 6 appearance on Fox Business. “This is something we should have the first vote on before we leave, without any question,” Scott said, adding that Majority Leader John Thune (R-S.D.) could schedule the measure. “The good news is we have the time to get it done.”
Republicans hold 53 seats, so the bill needs at least seven Democratic votes to reach the 60-vote cloture threshold. Scott said they had picked up additional GOP support in recent talks. Senator Cynthia Lummis (R-Wyo.) has also said the Senate will vote before recess.
The CLARITY Act would set federal rules for digital-asset markets, covering custody, trading, and disclosure. It has drawn support from Coinbase CEO Brian Armstrong, who said clear rules would strengthen the U.S. crypto industry. Strategy Inc. Chairman Michael Saylor also backed the bill, as did BlackRock, Fidelity, and Goldman Sachs.
New York Attorney General Letitia James pushed back, urging Congress to tighten crypto regulation as the FBI reported more than $11 billion in crypto-related fraud losses. The legislation has also faced scrutiny over President Donald Trump’s cryptocurrency holdings, which some lawmakers said could create conflicts of interest.
If the Senate cannot schedule a vote by the end of the session, the bill would carry over to the fall, when the political calendar gets more crowded. The odds of passage this week have slipped to 27% on prediction markets, according to CLARITY Act odds sink to 27% after Senate delays crypto bill.
A delay risks ceding the regulatory lead to other jurisdictions, warned Florida Senator Mike Haridopolos, who has argued that the U.S. could lose its crypto edge. The Senate floor calendar for the remaining day has not been published.
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