Clarity Act expected to miss its window before Congress’ summer break, leadership says The deadline to get the crypto market structure bill done before senators scatter will likely be missed, says Majority Leader Thune, though it may get a start before then. – U.S.
Senate Majority Leader John Thune predicts that the crypto Clarity Act won’t find runway to pass by the time the Senate starts its long summer break. – Missing the pre-recess deadline is a significant blow to the possibilities of 2026 passage. – But Thune told reporters that he hopes to still get the floor process started before the summer break, which will see lawmakers focusing on the election campaigns of the midterm elections
Industry and congressional negotiators working on crypto market structure legislation had focused on August 7 as the day that the Digital Asset Market Clarity Act needed to get done if it were to have a reasonable chance at a 2026 passage. That’s probably not going to happen, according to Senate Majority Leader John Thune. However, the Clarity Act may be able to make a start in its Senate floor process before the long summer recess, Thune indicated, which may soften the blow of missing its primary window. “I would like to at least get Clarity started,” he told reporters on Thursday. “We’ll see where the votes are.” Getting it rolling before the recess could put it in a potential viability for the brief window of about three weeks of floor time waiting in September, though election politics will be looming and other priorities will battle for lawmakers’ time.
The legislation has also faced a contentious debate since the final working draft emerged this week, with members of both parties taking issue with various sections, and a large number of Democrats taking a stand against its approach to limiting senior government officials — most notably President Donald Trump — in their crypto business activities. The midterm congressional elections are in November, and lawmakers are…