Senate Delays CLARITY Act Crypto Bill Until September: Sources

Senate Delays CLARITY Act Crypto Bill Until September: Sources

John Thune, the Senate Majority Leader, has reportedly acknowledged that lawmakers will be postponing the vote on the measure until September.

Republican leadership in the Senate is anticipated to depart from Washington, DC, ahead of the August congressional break without holding a vote on cryptocurrency market structure legislation, delaying the bill's floor consideration until September, based on reporting from Politico.

On Friday, Senate Majority Leader John Thune reportedly acknowledged a Politico report indicating that the chamber was deferring the vote until September and intended to set up the legislation for consideration at that time.

According to two individuals familiar with the situation cited by Politico, the CLARITY Act is currently lacking support from Democratic senators. Negotiations continue to take place, and the timeline could potentially shift if legislators achieve a bipartisan agreement.

Thune retains the option to file cloture prior to the congressional recess. Such a procedural move could set the stage for the bill to receive a vote when senators reconvene in mid-September, though it would not represent an actual vote on the measure itself, sources indicated.

Sources stated that Democratic senators have refused to agree to a time agreement that would accelerate the Senate's remaining business before the recess and permit the cryptocurrency bill to advance to the floor for consideration.

Based on the reporting, Republican leadership would require unanimous consent from the entire body of 100 senators to finish the remaining agenda items without prolonging the session well into the following week.

Cointelegraph reached out to Thune's office seeking confirmation of the schedule and inquiring whether he intends to file cloture ahead of the recess, but had not received a reply by the time of publication.