Senate Stalls Clarity Act Amid Russian Sanctions and Nominations

The US Senate has delayed consideration of the Clarity Act yet again as lawmakers prioritize federal nominations and Russian sanctions.

The delay makes it increasingly likely that the bill will not be deliberated upon during the ongoing session, with a final vote now looking unlikely before August 8.

Senate Majority Leader John Thune has prioritized discussion on the Russian sanctions package, which cannot be considered alongside other contested bills under Senate rules.

SEC Chair Paul Atkins remains optimistic that the Senate will pass the Clarity Act, which would require senior government officials to disclose their crypto holdings and provide regulatory clarity for the industry.