WASHINGTON — The U.S. Senate has taken a procedural step to advance landmark cryptocurrency market-structure legislation, but a vote on the measure will not take place before lawmakers leave Washington for their August recess, leaving the bill’s fate dependent on negotiations when Congress returns.
Senate Majority Leader John Thune filed a cloture motion on the Digital Asset Market Clarity Act, known as the CLARITY Act, setting up a procedural vote after the Senate returns from its recess, according to Reuters and congressional records.
The Senate is scheduled to enter its August state work period on Aug. 10 and return in September, according to the chamber’s 2026 legislative calendar.
The move keeps the legislation alive but falls short of the earlier goal of securing Senate action before the recess. The bill would establish a federal regulatory framework for digital assets and clarify the respective roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission in overseeing cryptocurrency markets.
The legislation has advanced with bipartisan support in the Senate Banking Committee, which approved it in May by a 15-9 vote after months of negotiations. But securing the 60 votes generally needed to overcome a Senate filibuster remains a central challenge.
Republicans hold the Senate majority and will need support from Democrats to advance the measure. Negotiations have included provisions addressing consumer protection, financial risks and restrictions on government officials and their families profiting from cryptocurrency ventures.
Democratic Senator Elizabeth Warren, the Banking Committee’s ranking member, has criticized the legislation over what she says are inadequate safeguards and ethics provisions. Warren has also raised concerns about President Donald Trump and his family’s cryptocurrency interests.
Republicans and the cryptocurrency industry have argued that the bill would provide clearer rules for digital-asset companies and reduce regulatory uncertainty. Senate Banking Committee Chairman Tim Scott, a Republican, has described the measure as a framework intended to protect consumers while supporting innovation and combating illicit finance.
The CLARITY Act follows the GENIUS Act, which President Trump signed into law in 2025 to establish a federal framework for payment stablecoins. The market-structure legislation is broader, covering the classification and regulation of digital assets and the jurisdiction of federal financial regulators.
With the Senate leaving for its scheduled August recess without a floor vote, negotiations are expected to continue. Thune’s procedural action means the chamber can resume consideration of the bill when senators return, but passage will still require sufficient bipartisan support.
