Thune confirmed late Thursday that the Senate is punting the Clarity Act to September. His words: the Democrats were insistent on no Clarity vote, and it gets queued up first thing when they return.

That’s being reported as a delay. I’d argue it’s closer to a shot clock running down, and the calendar math is the part nobody’s saying out loud.

Where the bill actually stands:

Passed the House in July 2025, 294 to 134 Advanced out of Senate Banking in May 2026, 15 to 9 Has been sitting on the Senate Legislative Calendar since June 1 as Calendar No. 423, eligible for a floor vote any time leadership wanted to schedule one

It sat there for two months and still didn’t get called. That’s the tell. This wasn’t a scheduling accident, it was a vote count that wasn’t there.

Why September is tighter than it sounds: the Senate returns mid-September for a few weeks, then attention collapses into the November midterms. The bill needs 60 votes, which means real Democratic support, and reporting suggests some Democrats are reluctant precisely because of the political optics ahead of the midterms and the industry’s growing lobbying footprint. Republican support has also wavered. And even if it clears the Senate, it goes back to the House before it can be signed.

The unresolved fights are the same three that have stalled it all year: the ethics provisions being negotiated by Gallego and Tillis around officials and their spouses issuing digital assets, whether yield or rewards on stablecoins get allowed, and whether the bill gives enforcement agencies enough tools on illicit finance.

The part worth actually thinking about: bills die at the end of a Congress. If Clarity doesn’t clear the Senate in that September window, it doesn’t just get postponed to next year. It restarts from zero in a new Congress with a possibly different balance of power, and the entire SEC/CFTC jurisdictional question stays unsettled by statute, which means it keeps getting decided by enforcement actions and court rulings instead.

Full disclosure so nobody feels misled: I write a twice weekly newsletter covering bitcoin law and regulation, which is why I track this stuff this closely. Not linking it, not asking anyone to sign up, just being upfront about where the interest comes from.

So the question: has any of this actually changed what you do? Did the regulatory limbo push you further into self custody, make you use offshore platforms, delay a project you wanted to build, or change how you handle taxes and reporting? Or have you just tuned Congress out entirely at this point and gone back to ignoring it?

Sources: The Block, Politico via Cointelegraph, CoinDesk.

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