Breaking: Senate Majority Leader John Thune Confirms CLARITY Act Vote Before August Recess

Kritika Mehta
Updated
Kritika Mehta

Kritika Mehta

News Writer & Journalist
Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.
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CLARITY Act Update: Final Vote Schedule and Its Impact on Top Crypto Prices
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Senate Majority Leader John Thune said he expects the Senate to have another preliminary procedural vote on the CLARITY Act before lawmakers head out for their August recess. The news follows the structure of the crypto market bill not even being seen in the official Senate floor schedule.

Thune says CLARITY Act Vote Remains On Pre-Recess Agenda

The Senate still has plenty to do before the break, said Thune in a Monday interview with reporters. “We have a bunch of stuff that we have to finish, and we’ll just stay here until we finish it,” he said.

He included in his list a continuing resolution, a nominations package, Russia sanctions, the crypto market structure bill and Jonathan Blanche’s nomination.

Nevertheless, Thune added that the CLARITY Act is moving forward with the limited timeframe. “I think market structure we’ll get a vote on. Whether we can get on it or not, we’ll see,” he said.

CLARITY Act Still Missing From Senate Floor Schedule

On August 3, lawmakers reconvened in Washington. However, the CLARITY Act is still absent from the current Senate calendar. The chamber has a 5:30 p.m. cloture vote that is on the agenda for H.R. 6500, not H.R. 3633, the CLARITY Act. There is as yet no formal notice filed for a cloture motion, or a final floor vote on the crypto legislation.

The time frame for the legislation is getting shorter before the month-long recess, crypto analyst Ted Pillows said. “If Senate leadership waits until Wednesday to file cloture, a procedural step required to move the bill forward, the earliest vote would likely be Friday,” he wrote.

Another priority was brought before the Senate by Thune. Democrats are “dragging out” the Russia sanctions package, which needs a time agreement to get done, he said. He stated he would “ideally” sign up for Blanche’s confirmation, but wouldn’t make a definite pledge.

Brian Armstrong Urges Senate’s Support

Meanwhile, Coinbase’s CEO Brian Armstrong has pleaded with senators to approve the bill. On X, he wrote, “The CLARITY act represents a ton of bi-partisan work to finally establish clear rules for crypto in America.”

The bill would offer some clarity for the crypto industry, Armstrong said. It will serve to advance consumer protection, bolster law enforcement capabilities, and maintain U.S. digital asset innovation, he added. He also stated that the bill would allow banks to get new opportunities to integrate stablecoins and crypto services.

“This week we get to see who in the Senate represents the will of the people, and will step up to vote YES on this common sense legislation,” Armstrong wrote.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.