Overview
- Senate Majority Leader John Thune confirmed late Thursday that leaders will not hold a floor vote before the August recess and will queue the CLARITY Act for consideration when senators return in mid-September.
- Democrats withheld pre-recess procedural support because they want stronger ethics language, tighter illicit‑finance and law‑enforcement rules, and clearer protections for developers, leaving key policy fights unresolved.
- Republicans hold 53 Senate seats but the bill needs roughly 60 votes to overcome a filibuster, and negotiators say current support may not even reach 50 votes without several Democratic crossovers.
- Markets and industry reacted quickly as prediction markets cut passage odds into the mid‑to‑low teens and trade groups warned the delay increases regulatory uncertainty and could push builders offshore.
- The CLARITY Act passed the House in July 2025 and cleared Senate committee gates in May 2026, so lawmakers now have a compressed September window to reconcile outstanding disputes or cede ground to SEC and CFTC rulemaking.