Thune expects a Clarity Act vote before the Senate leaves town

Senate Majority Leader John Thune (@LeaderJohnThune) said Monday he still expects an initial floor vote on the Digital Asset Market Clarity Act before the chamber heads into its August recess. "I think market structure we'll get a vote on," he told reporters, while acknowledging the Senate has a crowded legislative window to work through.

The Ethics Standoff

The procedural vote would arrive with the bill's central dispute unresolved. The White House has not yet responded to a counterproposal submitted by Senators Ruben Gallego and Thom Tillis after lawmakers attempted to reach a compromise on enforcement rules. The changes would reportedly address concerns from many lawmakers in the first draft by allowing state authorities, rather than the US Attorney General, to enforce a ban on federal officials issuing or sponsoring digital asset tokens.

Tillis, a Republican, and Gallego, a Democrat, took on the task when it became apparent that the White House-approved section governing crypto conflicts of interest for senior US officials was not going to satisfy most Democrats. Tillis has acknowledged that additional changes would likely be needed to attract the 60 votes required for Senate passage.

A Narrowing Window

Thune plans to push the Clarity Act toward a floor vote before the August recess, potentially forcing senators to publicly declare their positions even if the bill cannot overcome a filibuster. Republicans need roughly seven Democratic votes if all 53 GOP senators support cloture.

The Clarity Act is the most advanced crypto market structure bill in US history. The House passed it on July 17, 2025, by a 294-to-134 margin, with more than 70 Democrats crossing the aisle. The Senate Banking Committee then advanced it by a vote of 15-9 in May 2026.

Brian Gardner, chief Washington policy strategist at Stifel, has warned that missing the recess window would cause the bill's prospects to "deteriorate materially," pushing it into a September session crowded by appropriations fights and the November midterms. Polymarket odds on the Clarity Act becoming law in 2026 have already fallen to approximately 28%, down from a peak of 82% in February.

Dozens of crypto projects have shut down in 2026, with the industry pointing to regulatory uncertainty as a key driver, as firms cannot plan custody or product roadmaps without knowing which agency holds jurisdiction. With the White House's silence on the Tillis-Gallego proposal holding up any deal, crypto's market structure framework is racing the clock into August.

Sources:
CoinDesk: Clarity Act expected to miss its window before Congress' summer break
The Block: Tillis and Gallego send new ethics compromise to White House
Disruption Banking: CLARITY Act update, where the bill stands right now