Thune's CLARITY Act Filing Forces September Vote on Crypto Regulation Bill
Senate Majority Leader John Thune has filed cloture on the CLARITY Act, ensuring that the Senate will vote on the bill when members return from recess in September. This move avoids the potential delay tactic of filibusters and forces every senator to be on record with their stance.
The CLARITY Act sets rules for crypto markets and clarifies the division of oversight between the SEC and the CFTC, a central priority for the crypto industry throughout 2026. XRP holders have been following the bill's progress closely, given its potential impact on institutional adoption.
Thune's filing puts pressure on senators to find common ground on two unresolved issues: changes to yield-related language in the bill and state attorneys general holding power to take legal action against the DOJ over ethics enforcement. Republicans and the White House have rejected the latter provision, leaving room for negotiation during the recess period.
Senator Cynthia Lummis has stated her commitment to moving forward with the bill, saying 'We've come too far to quit now.' Thune's filing ensures that the Senate will hold to this promise when September arrives.