Thune Delays CLARITY Act Vote to September Amid Senate Deadlock
The Senate vote on the Digital Asset Market Clarity (CLARITY) Act has been postponed until September, Majority Leader John Thune confirmed late Thursday. The delay comes after Democrats insisted on no vote, citing unresolved ethics provisions in the bill. Thune stated that the legislation would be queued up first thing when the Senate returns from the August recess.
Politico reported that the deadlock stems from a partisan dispute over a proposed ethics clause. Senators Thom Tillis and Ruben Gallego introduced a provision requiring the president and other federal officials to divest any ownership in a digital asset company worth more than $1 million if it represents over 10% of the firm’s value. This clause is widely seen as targeting President Trump’s crypto ventures.
Additionally, the role of state attorneys general in enforcement has been a point of contention. Some lawmakers fear politically motivated investigations could arise under the bill.
Despite pressure from industry heavyweights to hold the vote before recess, the bill lacked the 60 votes needed for cloture. Even some Republicans, including Senators Jerry Moran and Josh Hawley, indicated they would vote against the CLARITY Act unless changes are made to address banking concerns.
Thune had earlier expressed confidence that the bill would pass before recess, saying on Tuesday, “We have a bunch of stuff that we have to finish, and we’ll just stay here until we finish it.” However, the breakdown in negotiations forced a delay.
The CLARITY Act aims to provide regulatory clarity for digital assets, but the ethics dispute and bipartisan opposition have stalled progress. Lawmakers will resume work on the bill in September.