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Senate delays Digital Asset Market Clarity Act procedural vote until after recess
The Senate Majority Leader said no procedural vote on the Digital Asset Market Clarity Act would occur before the August recess, pushing any potential action to mid-September and leaving multiple ethics and stablecoin issues unresolved.
CoinDesk reports that Senate Majority Leader John said late last Thursday the Senate will not hold even a procedural vote on the Digital Asset Market Clarity Act before the August recess, dimming prospects for the bill to become law this year.
The outlet says the odds of a vote were already considered slim, and the delay could give lawmakers additional time to work through outstanding concerns that were not resolved enough to clear a procedural hurdle in August.
CoinDesk highlights that a successful advance might still have been difficult due to a wide set of unresolved issues, with ethics concerns tied to President Donald Trump's crypto business relationships standing out as a central obstacle.
The newsletter notes lawmakers have debated these concerns for over a year, including around the GENIUS Act negotiations, and it points to reporting on Trump’s $1.4 billion profit as a concrete example that worsened negotiations, while additional disputes involving stablecoin yields and rewards also remained in play.