Sen. Tim Scott, chair of the Senate Banking Committee, said this week that a first vote on the CLARITY Act could still happen before the August recess. He accused Democrats of slowing negotiations on the crypto bill. Republicans are pushing to advance the legislation.
Scott's timeline
The August recess is just weeks away. Scott's statement suggests the window for a vote is tight but still open. The CLARITY Act has been in committee for months, with Republicans calling for a markup before lawmakers leave Washington.
The blame game
Scott didn't mince words. He said Democrats are dragging their feet on the bill, which aims to create a federal framework for digital assets. The accusation lands amid broader partisan fights over crypto regulation — Democrats have pushed for stricter consumer protections, while Republicans want a lighter touch to keep innovation in the U.S.
What's at stake
The CLARITY Act is a top priority for Senate Republicans this session. If it passes, it would give the Commodity Futures Trading Commission more authority over crypto spot markets and set clear rules for exchanges. Without a vote before recess, the bill could stall into the fall, when the election cycle heats up.
Next steps
Scott said he's still working to schedule a committee vote. He'll need at least one Democrat to cross the aisle to move the bill to the floor. Whether that happens before recess depends on whether the two sides can find common ground — fast.
