US Senate pushes CLARITY Act vote to September: Report

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 on Friday reportedly confirmed a Politico report that the chamber was “punting” the vote until the Senate is back from recess in September.

Citing two people with knowledge of the matter, Politico reported that the CLARITY Act lacks sufficient Democratic support to advance. Negotiations remain underway.

Thune may still file cloture before the recess. This procedural step could position the bill for a vote when senators return in mid-September, but it would not constitute a vote on the legislation, according to sources.

The sources said Democrats have declined to approve a time agreement that would expedite the Senate’s remaining pre-recess business and allow the crypto bill to reach the floor. 

According to the report, Republican leaders would need unanimous consent from all 100 senators to complete the outstanding items without extending the session deep into next week.

Cointelegraph reached out to Thune’s office to confirm the timetable and ask whether he plans to file cloture before the recess, but had not received a response by publication. 

Related: CLARITY Act failure could send crypto valuations lower: Bernstein