John Thune shuts down hopes for CLARITY Act vote before recess

Senate Majority Leader John Thune has ruled out passing the CLARITY Act before the August recess, reducing its chance of becoming law in 2026 to 33%. Election politics, disputes over Trump’s crypto businesses, and opposition from banking groups have complicated negotiations, with the bill facing challenges in reaching the required 60 votes in the Senate. Despite continued pressure from crypto executives, the bill’s passage remains uncertain as lawmakers enter recess without resolving key issues.