Crypto▼ Bearish
Thune Says CLARITY Act Floor Vote Unlikely Before August Recess
Thune says the CLARITY Act will start floor debate but likely won't pass before the August recess. Galaxy Research cut its 2026 passage odds, citing a narrowing calendar and competing priorities.
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Senate Majority Leader John Thune told reporters he expects the CLARITY Act to begin formal floor consideration, but he acknowledged completing the process before the August recess is unlikely.
Negotiators and industry participants had viewed the weeks before early August as a key window for the crypto market structure bill this year. The fall calendar is expected to be dominated by midterm election campaigning, leaving limited space for legislative work.
The CLARITY Act aims to split regulatory oversight of digital assets between agencies. It cleared earlier committee stages but still faces unresolved questions on ethics rules for public officials and reaching a 60-vote threshold in the Senate.
Galaxy Research, part of Galaxy Digital, lowered its estimated probability of the bill passing in 2026. The firm cited the narrowing floor calendar and competing congressional priorities. The revised outlook broadly matches other crypto industry estimates.