Thune Faces Tight Deadline to Advance Clarity Act Amid Ethics Talks

Senate Majority Leader John Thune is pushing to advance the CLARITY Act before the August recess, but unresolved ethics talks remain the biggest hurdle. Under Senate procedures, Thune would need to file a cloture motion by Tuesday to allow a vote by Thursday. This will be a tight window for Thune and his team to secure the 60 votes needed for the legislation to proceed.

The White House has not yet replied to a bipartisan counterproposal submitted last week by Senators Thom Tillis (R-NC) and Ruben Gallego (D-AZ), which aims to add an enforcement role for state attorneys general. If an agreement is reached, supporters of the bill may be able to secure the necessary votes. However, without an agreement, the path forward for the CLARITY Act will remain uncertain.

Industry advocates are now more cautious in private conversations, warning that a failed procedural vote would leave the bill's path forward unclear. Kristin Smith, President of the Solana Policy Institute and former Blockchain Association CEO, has pointed to the GENIUS Act as an example of how major legislation can stall before eventually passing.