Senate Majority Leader John Thune says he still expects a floor vote on the CLARITY Act this week, even as the chamber has just four legislative days left before its August recess.
Key Takeaways
Thune says the Senate still expects a CLARITY Act vote before the August 7 recess.Galaxy Research cut CLARITY Act enactment odds from 50% to 30% this week.The bill needs 60 votes to pass; Republicans hold only 53 Senate seats.Now days later, he has reversed course, saying the Senate would keep working through its packed pre-recess calendar specifically to get the crypto market-structure bill done. “We have a bunch of stuff that we have to finish, and we’ll just stay here until we finish it,” Thune said, folding the CLARITY Act into a broader list of unfinished Senate business rather than treating it as a standalone priority.
Why the Clock Is so TightIf Thune’s promise holds and the Senate does find a path to 60 votes this week, the CLARITY Act would become the first comprehensive federal market-structure law for digital assets, splitting oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission depending on how a given token is classified.
