US Senate pushes CLARITY Act vote to September: Report

Senate Majority Leader John Thune reportedly confirmed that the chamber was “punting” the vote until September.

Senate Republican leaders are expected to leave Washington, DC, for the August recess without voting on crypto market structure legislation, pushing the bill’s consideration to September, according to a report from Politico.

Senate Majority Leader John Thune on Friday reportedly confirmed a Politico report that the chamber was “punting” the vote until September and planned to tee up the legislation.

Citing two people with knowledge of the matter, Politico reported that the CLARITY Act lacks Democratic support. Negotiations remained underway, and the schedule could change if lawmakers reach a bipartisan breakthrough.

Thune may still file cloture before the recess. This procedural step could position the bill for a vote when senators return in mid-September, but it would not constitute a vote on the legislation, according to sources.

They said Democrats have declined to approve a time agreement that would expedite the Senate’s remaining pre-recess business and allow the crypto bill to reach the floor.

According to the report, Republican leaders would need unanimous consent from all 100 senators to complete the outstanding items without extending the session deep into next week,

Cointelegraph contacted Thune’s office to confirm the timetable and ask whether he plans to file cloture before the recess, but had not received a response by publication.

Related: CLARITY Act failure could send crypto valuations lower: Bernstein