Senate schedule squeeze puts CLARITY Act on thin ice

Senate Majority Leader John Thune has effectively sidelined the bill to focus on a packed floor agenda, leaving little room for the procedural debates required to move the legislation forward. Alex Thorn, head of research at Galaxy Digital, notes that the calendar has transitioned from a mere hurdle into a structural enemy. Lawmakers needed to initiate floor proceedings by July 30 to clear the chamber before the August 7 recess, a deadline that has now passed.

Securing the necessary 60 votes remains a complex math problem. Republicans hold 53 seats, but potential absences and wavering support from senators like Josh Hawley and Rand Paul mean the party may need to court at least 10 Democrats. While the Senate Banking Committee cleared the bill in May, Democratic leadership remains wary of the proposal’s ethics provisions and the broader political optics. Anthony Scaramucci and other industry observers warn that the bill’s alignment with Donald Trump’s agenda has intensified partisan resistance, making bipartisan cooperation increasingly unlikely in the final stretch of the election cycle. As uncertainty lingers, Bitcoin prices have drifted near $63,800, reflecting investor anxiety over the prospect of a continued regulatory vacuum.