Senate leader casts doubt on Clarity Act passage before August recess: CoinDesk

The US Senate may begin considering the Digital Asset Market Clarity Act before its summer recess, but completing the crypto market structure bill by the industry’s preferred August 7 deadline appears increasingly unlikely, according to a CoinDesk report. Senate Majority Leader John Thune told reporters Thursday that he would like to at least begin the floor process. “I would like to at least get Clarity started,” Thune said. “We’ll see where the votes are.” Beginning consideration before the recess could preserve a path for the Senate to resume work when lawmakers return in September. The chamber is scheduled to begin its summer state work period on August 10 and return on September 14. The bill had not entered floor consideration as of Thursday, with the Senate instead working through judicial nominations, an Iran war powers resolution, and the annual defense authorization bill. Industry representatives and congressional negotiators had viewed August 7 as the practical deadline for passing the bill before lawmakers shift their attention toward the November midterm elections. The Senate will sit for only a limited period in September. Any amended version approved by senators would...