Crypto▼ Bearish
Thune Delays CLARITY Act Vote to September Amid Senate Deadlock
Thune blames Democrats for blocking the CLARITY Act vote until after recess. Ethics clause targeting Trump's crypto holdings remains the main obstacle; some Republicans also oppose the bill.
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Senate Majority Leader John Thune has pushed the vote on the Digital Asset Market Clarity Act to September, after Democrats refused to bring the bill to the floor before the August recess. Thune blamed the delay on Democratic demands for further work on the ethics provisions, which have become the central sticking point.
“The Dems insisted on no Clarity vote. We’re getting that queued up first thing [when] we come back in September,” Thune told reporters late Thursday, according to Politico. Senior Congress reporter Jordain Carney confirmed the timeline, saying work on the bill would restart after the recess.
Thune had earlier said he expected a vote the week before recess. “We have a bunch of stuff that we have to finish, and we’ll just stay here until we finish it,” he said Tuesday. That plan collapsed as Democrats and the White House failed to find common ground on a proposed ethics clause.
The core dispute centers on a provision floated by Senators Thom Tillis and Ruben Gallego. It would require the president and other federal officials to divest any ownership in a digital asset company worth more than $1 million, if that stake represents over 10% of the firm’s value. The clause is widely seen as targeting President Trump’s crypto-related holdings. The role of state attorneys general in enforcement has also been a point of contention, with some lawmakers worried about politically motivated actions.