Crypto▼ Bearish
Senate Pushes Clarity Act Vote Past August Recess
Thune confirmed no floor vote until after recess, extending the crypto industry's wait for U.S. digital asset rules. No date set, just a "high on the agenda" pledge.
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Senate Majority Leader John Thune confirmed the Clarity Act won't get a floor vote until after the chamber returns from its August recess. The Senate cleared its calendar before the break, leaving the crypto industry without a vote on legislation that would define federal oversight of digital assets.
No specific date was offered beyond Thune's assurance it would be "high on the agenda" once lawmakers reconvene. The confirmation came as the Senate prioritized other business, though which specific matters bumped the bill was not detailed.
The Clarity Act aims to resolve a long-running jurisdictional fight between the SEC and CFTC over whether tokens are securities, commodities, or something else entirely. Without that clarity, exchanges face ambiguity in compliance programs, token issuers don't know which federal register they fall under, and institutional capital stays stuck on the sidelines, industry attorneys and lobbyists said.