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U.S. Senate delays crypto Clarity Act amid Russia sanctions push
The Senate scheduled time for Russia sanctions and nominations first, with any chance for crypto Clarity action potentially slipping until after the summer recess begins August 8.
The U.S. Senate has put the crypto Clarity Act on hold as Majority Leader John Thune prioritizes other items on the chamber agenda, according to CoinDesk. Lawmakers are still debating the bill’s details, but the schedule is set up to begin with federal nominations and a Russia sanctions measure before returning to crypto policy.
CoinDesk reports the Clarity Act could still see some preliminary movement next week, but that would likely be limited to the final week before the Senate’s summer recess. If the bill does not advance before the chamber breaks on August 8, its next potential window could shift to September.
The procedural constraints also reduce the odds of a floor vote soon, as Senate rules typically allow dispute-focused consideration of only one contentious bill at a time. Thune is expected to move the Russia sanctions bill forward using cloture steps after shifting to it Tuesday night, while the process and waiting periods run.
The outlet adds that the crypto Clarity Act has faced delays tied to ongoing negotiations over a contentious market structure provision, including a ban on senior government officials, such as the President, backing crypto projects. In the same timeframe, Senate attention is expected to be taken up by the funeral of Lindsey Graham, the senator associated with the Russia measure.