The US Senate won't vote on the CLARITY Act before the August recess, Majority Leader John Thune confirmed this week, pushing the crypto market-structure bill to September at the earliest. The delay means the legislation, which needs 60 votes to advance, now faces a tighter calendar and a thicker tangle of demands from both parties.
Why the vote slipped
Thune said the chamber won't take up the bill in August but expects it to be considered once senators return. The holdup isn't procedural — it's political. Democrats opposed holding a vote before recess, pressing for stronger safeguards to keep President Trump from financially benefiting from crypto while in office.
On the Republican side, Josh Hawley has said he'll oppose the bill unless it's changed to address concerns from community banks. That's a problem for leadership: with unanimous Democratic opposition and at least one GOP holdout, the 60-vote threshold is out of reach.
The math in the Senate
The CLARITY Act can't pass without some Democratic votes. That's not a hypothetical — it's arithmetic. Even if the Senate clears it, the legislation must go back to the House for approval before landing on President Trump's desk. So the September debate isn't just about the bill's merits; it's about what concessions get traded to unlock the votes.
Hougan: delay won't derail the industry
Bitwise CIO Matt Hougan says missing the August vote isn't a fatal blow. He expects lawmakers could revive the legislation when Congress returns in September or during the year-end session. His bigger worry is the uncertainty itself, which has kept some institutional investors on the sidelines.
Hougan thinks a clearer outlook could ultimately boost confidence and support a stronger crypto rally later this year. He also noted the SEC could still introduce crypto-friendly regulations on its own, independent of the legislative timeline.
Market shrugs
The reaction to the Senate update was muted. Bitcoin held near $64,100, Ethereum slipped below $1,900, XRP lost over 2.5% to trade at $1.02, BNB fell 1.4% to $587, and Solana dropped more than 1.7% to $72.6. Traders seem to have priced in the delay weeks ago — the question now is whether September brings a vote or another round of negotiations.
