Senate | Crypto

The market rose even as the Senate left the crypto bill unpassed before its recess, with steady ETF inflows and a softer dollar doing more for prices than Washington.

The procedural move puts crypto market structure legislation back on track as lawmakers continue negotiations over ethics and stablecoin provisions. US Senate Majority Leader John Thune has filed cloture on a motion to take up the Digital Asset Market Clarity Act, also known as the CLARITY Act, setting up a key procedural vote on the crypto market structure bill for September. The vote is expected after the Senate reconvenes on Sept. 15, giving lawmakers several more weeks to resolve disagreements that prevented a deal before the August recess. The Senate Daily Press confirmed that Thune filed cloture on the motion to bring the CLARITY Act to the Senate floor for consideration. Invoking cloture requires 60 votes, meaning Republicans will need Democratic support to clear the procedural hurdle. Read more

Senate Majority Leader John Thune has formally started the process to force a vote on whether the Senate will take up the CLARITY Act, giving the stalled crypto market-structure bill an immediate path to the floor when lawmakers return in September. Thune filed cloture early Saturday on the motion to proceed to H.R. 3633, the […] The post CLARITY Act is finally headed for a 60-vote Senate showdown in September appeared first on CryptoSlate.

The majority leader opened the multi-stage process the Senate follows when trying to get a bill over its 60-vote hurdle, so it's still got a shot in September.

The US Senate has abandoned plans to vote on the landmark CLARITY Act legislation before its August break. On Aug. 6, Senate Majority Leader John Thune confirmed that the legislation will have to wait until lawmakers return Sept. 14, reversing his earlier expectation that the Senate would act before leaving Washington. A spokesperson for the […] The post Senate abandons August CLARITY Act vote – leaving 14 ‘work days’ until midterm election season kills it appeared first on CryptoSlate.

Senate Majority Leader John Thune confirmed that the chamber was “punting” the vote until September. Senate Republican leaders are expected to leave for their August recess without voting on crypto market structure legislation, delaying consideration of the bill until at least September, according to a report from Politico.  Senate Majority Leader John Thune confirmed that the chamber would not vote on the legislation before the recess, citing Democratic opposition and saying it would be prioritized when senators return next month.  “The Dems are insistent on no Clarity vote,” Thune said, according to comments his office provided to Cointelegraph. “I worked with sponsors of the bill. Senator Lummis was great, and we’re getting that queued up first thing when we come back.” Read more

The U.S. Senate won't go on its August recess just yet but it will not vote on the Clarity Act this month, dimming hopes that the bill can become law this year.

The South Carolina lawmaker who heads the Senate Banking Committee said that the majority leader still had time to put the crypto bill on the agenda despite the narrow voting window. Senator Tim Scott, who chairs the Senate Banking Committee, said that the chamber would vote on the Digital Asset Market Clarity (CLARITY) Act before it broke for an August recess, giving lawmakers just a few days to take action on the crypto bill. In a Thursday Fox Business interview, Scott said that the Senate “should have the first vote” on the CLARITY Act before lawmakers leave for state work periods this week. He added that Senate Majority Leader John Thune, who has the authority to set the agenda and schedule floor votes, still had time to announce a cloture vote on the crypto bill in the next few days. “The good news is we have the time to get it done,” said Scott.  Read more

The US Senate is running out of time to advance the CLARITY Act, but Bitwise says a decisive failure could eventually remove an obstacle weighing on crypto markets. Senate leaders face a narrowing window on Wednesday to file for cloture if they want to preserve a chance of voting on the digital asset market structure […] The post Senate has hours to advance CLARITY, but Bitwise says missing deadline sets up a crypto rally appeared first on CryptoSlate.

Tyler Williams served as Secretary Scott Bessent's principal adviser on blockchain and digital asset policy, making him one of Treasury's top voices on US crypto regulation. He is returning to the private sector after leaving his post on July 31. His exit is the fourth senior crypto departure from a position of federal power this […] The post Odds of CLARITY crypto legislation passing sink to 27% as Treasury, White House, SEC, and Senate leads quit appeared first on CryptoSlate.

The CLARITY Act enters the Senate's final scheduled week before the August recess. Monday's floor schedule opens with H.R. 6500, a government funding vehicle, and CLARITY has yet to appear on the schedule. Negotiators are still working through disputes over government ethics and stablecoin rewards, and prediction markets price the odds of the bill becoming […] The post Five days, a 30% chance, and a battle over Trump’s crypto profits: Inside the Senate’s scramble to pass CLARITY Act before Friday appeared first on CryptoSlate.

An ordinary Friday vote requires a Wednesday filing, while a bipartisan petition or unanimous consent could move faster. The post CLARITY Act vanishes from Monday’s Senate schedule, triggering 72-hour countdown to save it before recess appeared first on CryptoSlate.

BTC shed 2% as South Korea's Kospi plunged 11% and the U.S. Senate shelved the Clarity Act, leaving the market facing a pivotal Fed decision on Wednesday.

Galaxy Digital said the Senate has four working days to save the CLARITY Act, as it cut passage odds to 30%. In a July 24 note to clients, the crypto investment firm lowered its estimate for CLARITY Act chances this year from 50%, saying lawmakers need a deal by July 30 to leave enough time […] The post US Senate has 4 days to save CLARITY Act as odds fall to 30% – Galaxy Digital says appeared first on CryptoSlate.

Fidelity called on the US Senate to pass the CLARITY Act, joining industry groups and crypto firms pushing for market structure legislation. Fidelity called on the US Senate to pass the CLARITY Act on Friday, saying clear digital asset regulations are needed to strengthen investor confidence, provide certainty for market participants and reinforce US leadership in global crypto markets. The company joins a growing coalition of financial firms and crypto organizations urging US lawmakers to advance digital asset market structure legislation. Earlier Friday, the Crypto Council for Innovation, the Digital Chamber and the Blockchain Association called on Senate leaders to bring the bill to the floor. Coinbase CEO Brian Armstrong also called for a full Senate floor vote on Wednesday. Read more

The decision keeps the administration’s chief crypto policy negotiator in place during what could be a decisive few weeks for the CLARITY Act. The White House’s top crypto adviser Patrick Witt said he will no longer take a leave of absence at the end of the month for military training, allowing him to remain at the White House to help advance the CLARITY Act in the Senate. “Last week, it was reported that I was set to leave for mandatory training as part of my service in the Georgia Army National Guard, right before Clarity hits the Senate floor,” Witt said in an X post on Monday.  “While I remain committed to fulfilling my service obligation, I am grateful to report that my training has been deferred, and that I will be able to see this effort through to the end,” he added.  Read more

Polymarket bettors have cut the odds of the CLARITY Act passing this year to a record low as Senate negotiations over ethics provisions remain unresolved.

The Senate approved a resolution opposing clemency for former FTX CEO Sam Bankman-Fried as prediction markets put the odds of a Trump pardon by July 31 below 1%. The US Senate has adopted a resolution opposing executive clemency for former FTX CEO Sam Bankman-Fried, the convicted crypto executive behind one of the industry’s largest collapses. The Senate has agreed by unanimous consent to the simple resolution (S. Res. 772), with a nonbinding measure stating that Bankman-Fried should not receive executive clemency, according to a Wednesday X post by the Senate Press Gallery. The resolution affirms the Senate’s commitment to the rule of law and the integrity of the US financial system following Bankman-Fried’s conviction on fraud and conspiracy charges related to FTX’s collapse. Read more

The White House is increasing pressure on the Senate to pass the CLARITY Act before lawmakers leave Washington for their August recess. On July 13, President Donald Trump urged the US Congress to approve the legislation and cast the measure as part of the United States’ competition with China over cryptocurrency and artificial intelligence. He […] The post Trump puts Senate on a 24-day clock to find 60 votes for America’s crypto CLARITY Act rulebook appeared first on CryptoSlate.

The Federal Law Enforcement Officers Association expressed support for the CLARITY Act but urged changes to the legislation’s language. The Digital Asset Market Clarity Act has secured its second public endorsement from a major US law enforcement organization, coming just weeks before what many see as a make-or-break legislative deadline before the Senate’s August recess. In a July 10 statement, the Federal Law Enforcement Officers Association (FLEOA) said it submitted a letter to the US Senate Banking Committee endorsing the CLARITY Act, while calling for changes to strengthen accountability in decentralized finance (DeFi) and preserve investigators’ existing powers.  “[FLEOA] expressing support for CLARITY and confirming what many of us know — this bill is strong on consumer protection and law enforcement,” said Ji Kim, CEO of the Crypto Council, in a statement Monday.  Read more