Senate Puts Crypto Clarity Act Vote on Hold Until September

Democratic Senator Angela Alsobrooks said lawmakers are committed to a bipartisan deal that addresses consumer protection, illicit finance, deposit flight and ethics. Republican Senator Cynthia Lummis pledged to keep supporting the bill, arguing the U.S. crypto industry needs clear rules and that consumers and law enforcement need stronger protections.

Industry participants are split on whether the CLARITY Act can pass this year. Some say winning enough Democratic votes will require substantial changes to the ethics provisions, possibly including concessions from the White House. Others argue bipartisan negotiations give the bill a realistic path.

Election politics could complicate things further. Crypto-focused political action committees, including Fairshake, are expected to spend heavily in the campaign. Lawmakers from both parties have expressed concerns about parts of the legislation.

The Senate returns in mid-September. The bill's future depends on whether negotiators can reach a deal during the recess and lock down enough support when they come back.