US Senate Unlikely to Vote on CLARITY Act This Week as Russia, Iran Sanctions Bill Takes Priority
Summary
- The US Senate is unlikely to hold a vote this week on the CLARITY Act.
- The Senate is likely to prioritize a Russia-Iran sanctions bill, increasing the chances that a vote on the CLARITY Act will be pushed to next week.
- Senate leadership wants to complete the cloture process before the August recess, making consideration of the CLARITY Act difficult.
Forecast Trend Report by Period
Eleanor Terrett, host of Crypto in America, said on July 28 that the US Senate is unlikely to vote this week on the CLARITY Act, a market structure bill for digital assets.
Senate Majority Leader John Thune would first need to complete cloture on a motion to proceed to hold a vote on July 30. The Senate, however, is more likely to take up a Russia-Iran sanctions bill first. Industry participants therefore expect a vote on the CLARITY Act to slip to next week.
Senate leadership, however, wants to complete at least the cloture process before lawmakers begin their August recess.
CoinDesk earlier reported that the Senate's practice of handling contentious bills one at a time could make it difficult for the chamber to take up the CLARITY Act before other business is cleared.
