Clarity Act Faces Delay as Senate Adjourns for Extended July Recess

In a late-night session, Senate Majority Leader John Thune received unanimous consent to adjourn the Senate, sending lawmakers home earlier than expected for an extended July recess. This decision significantly compresses the timeline for the Clarity Act, a crypto regulatory bill that supporters had hoped would pass before the August recess.

Representative Anna Paulina Luna confirmed the adjournment, noting that no senator objected. This reduces available floor time for the Clarity Act, which was placed on the Senate Legislative Calendar earlier this month and requires 60 votes to overcome opposition from banking groups.

Senator Cynthia Lummis had previously stated the final Clarity Act text would be released over the July 4 recess, with a full Senate floor vote possible in July. A House Financial Services Committee hearing on the bill is scheduled for July 17. However, the early adjournment adds pressure to an already tight calendar.

Additional legislative priorities, such as the SAVE America Act, further complicate the timeline. President Trump has refused to sign a housing bill containing a CBDC ban until the SAVE America voting bill passes, adding another layer of urgency. Representative Luna criticized Thune’s move, suggesting he was avoiding a vote on voter ID legislation.

Crypto advocates are urging Congress to prioritize the Clarity Act immediately upon returning from recess, but the narrowed window makes a pre-August floor vote increasingly challenging.

Source: https://coingape.com/clarity-act-faces-delay-thune-adjourns-senate-extended-july-recess/