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The U.S. Senate may vote next week on the Cryptocurrency Transparency Act, as announced by SEC Commissioner Hester Peirce. The bill, which has already passed the House of Representatives and cleared the Senate Banking Committee, requires 60 votes to pass the full Senate. This legislation aims to clarify regulatory jurisdiction over digital assets between the SEC and the Commodity Futures Trading Commission (CFTC), particularly regarding asset classification. However, its progress has been stalled by unresolved issues, including stablecoin yield rules and ethics provisions. While Peirce's statement has increased market expectations of the bill's passage, it remains speculative without high-level confirmation. Market estimates currently assign only a 16.5% probability of enactment in 2026. Key factors influencing the outcome include the Senate vote, potential presidential support, and statements from figures like Senate Majority Leader Chuck Schumer. If passed, the law could trigger significant changes in cryptocurrency markets.

Senator Tim Scott, chair of the Senate Banking Committee, stated the Senate will vote on the Digital Asset Market Clarity (CLARITY) Act this week before an August recess. In a Fox Business interview, Scott emphasized there is still time for Majority Leader John Thune to schedule a cloture vote. His comments align with Senator Cynthia Lummis's recent push for a pre-recess vote. To pass, the bill requires support from 60 senators. Key unresolved issues include Democratic concerns over former President Trump's crypto investments and banking industry calls for provisions on stablecoin licensing and restrictions. Lawmakers are negotiating potential adjustments to address these points before the deadline.

The US Senate has delayed voting on the CLARITY Act, a major cryptocurrency market regulation bill, until after lawmakers return from their summer recess in September. Senate Majority Leader John Thune confirmed the postponement, attributing it to Democratic opposition due to the bill's potential political implications ahead of the November elections. The bill, supported by former President Donald Trump, has faced obstacles including opposition from banking lobbyists to stablecoins and controversy over Trump's own crypto ventures. Proposed amendments may now prohibit government officials and their spouses from issuing or sponsoring digital assets. Bitcoin's price showed little reaction to the delay. While the CLARITY Act is viewed as potentially highly favorable for the crypto industry, its odds of passage this year have plummeted from over 80% in February to just 14% according to prediction markets. Analysts suggest the market will continue evolving regardless, and the SEC could still implement crypto-friendly rules independently.

The U.S. Senate has only one day left to advance the CLARITY Act, a major cryptocurrency regulation bill, before its August recess. Advocacy group Stand With Crypto is urging supporters to contact their senators to secure the 60 procedural votes needed, requiring at least 7 Democrats to join the 53 Senate Republicans. Senate Banking Committee Chair Tim Scott emphasized the urgency for a vote before the recess, calling the bill a foundational framework for consumer protection and innovation. The bill faces political challenges, including concerns over crypto revenues linked to former President Donald Trump. Industry leaders, including Coinbase CEO Brian Armstrong, MicroStrategy's Michael Saylor, and major financial institutions like BlackRock and Fidelity, are strongly advocating for the legislation to provide clearer regulatory standards and certainty for the U.S. crypto market.

Republican Senate Leader John Thune plans to file a cloture petition on the Digital Asset Market Clarity (CLARITY) Act before the August recess, aiming to set up a floor vote in September. This signals GOP leadership's intent to prioritize the bill after the Senate's break. However, the bill faces hurdles: the need for 60 votes, banking lobby concerns over stablecoin yields affecting local banks, and an ongoing ethics provision negotiation with the White House requiring disclosure of crypto holdings by officials. Coinbase CEO Brian Armstrong supports the bill, stating it would foster investment and innovation. Analysts note the September timeline is tight, with only 14 working days before the October recess for midterm campaigns, making passage uncertain.