Senate Delays Clarity Act Vote Until September Amid Prioritized Legislative Agenda

The US Senate has postponed its vote on the Clarity Act, a bill aimed at clarifying regulatory oversight of crypto markets, until September. The decision was made due to the Senate's prioritization of other legislative business before their recess.

According to Senator John Thune, the Senate had a tight legislative agenda prior to the summer break and focused on issues such as the budget bill, Russia sanctions, and confirmation of judges. This meant that the Clarity Act, which passed the House and seeks to clarify SEC and CFTC oversight responsibilities, was put on hold.

Prediction markets have responded by lowering the probability of the law being enacted before the end of 2026 to 15.5%, down from 18% the previous day and 30% a week earlier. This decline in expectations is attributed to lower regulatory clarity for crypto, DeFi, and DEX activity in the near future.