Odaily Planet Daily reports: U.S. Senate Democrats plan to block the cloture motion for the CLARITY Act, making it difficult for the cryptocurrency market structure bill to secure the required 60 votes before the August 7 recess. Democrats stated that the White House has shown no clear progress in negotiations over a bipartisan ethics agreement. Senator Ruben Gallego said senators have submitted a bipartisan ethics text to the White House but have not yet received a response. Democrats are calling for enforceable restrictions on federal officials profiting from digital assets during their tenure and argue that the current provisions in the 616-page bill are insufficient. Senate Majority Leader John Thune still plans to push for a procedural vote this week. Republicans currently hold 53 seats and need approximately seven Democratic senators to reach the 60-vote threshold; if the vote fails or is not held, the bill will be delayed until at least September. On Polymarket, the probability of the CLARITY Act being signed into law by 2026 has dropped from 27% to 23% this week. Supporters of the bill continue to pressure Congress, with industry advocates reporting over one million constituent contacts in support of the framework.
U.S. Senate Democrats Plan to Block Procedural Vote on the CLARITY Act
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Summary
U.S. Senate Democrats are preparing to block the procedural vote on the CLARITY Act, complicating efforts to pass the crypto market structure bill before the August 7 recess. The White House has yet to respond to a bipartisan ethics proposal. Democrats insist the bill must include enforceable CFT (Countering the Financing of Terrorism) measures and stricter rules on risk-on assets. Senate Majority Leader John Thune aims for a vote this week, but without sufficient Democratic support, the bill could be delayed. On Polymarket, the odds of the law passing by 2026 have fallen to 23%. Industry supporters report over one million pro-bill voter contacts.
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