Senator Cynthia Lummis says the Senate still plans to hold a floor vote on the CLARITY Act before the August recess, even as she argues the country's current crypto rules fail the industry, everyday holders and the agencies meant to police fraud. Prediction markets have cut the odds of the bill becoming law in 2026 to roughly 30%, down sharply from above 80% in February.
Lummis told crypto journalist Eleanor Terrett that Senate leadership has one more week in Washington before recess, with nominations, a continuing resolution and votes on Iran and Russia-Ukraine sanctions also competing for floor time.
Lummis Says Thune Still Plans A Vote
Despite the crowded calendar, Lummis said Majority Leader John Thune has kept a place for the bill on the agenda for weeks. Lummis said, according to CoinGape: "I believe he does intend to go through with it." She added that the exact day of the vote is still undecided.
Odds Of 2026 Passage Fall To 30%
According to Bitcoin.com News, prediction markets put the odds of the bill becoming law in 2026 at roughly 30%, down sharply from above 80% in February. Lummis separately pressed for a Senate vote before August 8, saying the current regulatory patchwork isn't working for the industry, consumers or law enforcement. The Senate needs 60 votes to clear the bill, and with Republicans holding 53 seats, at least seven Democrats must cross over for it to pass.
Ethics Provisions Still Unresolved
Treasury Secretary Scott Bessent has also pushed the Senate to vote on the bill now, pointing to opposition from Senator Elizabeth Warren as a hurdle Thune must clear. Warren has argued the bill would weaken oversight enough to threaten the broader financial system, a position she has held since a committee vote in May.
Negotiators are still working through the bill's ethics and BRCA provisions. Democrats who wanted enforcement power kept with state prosecutors rather than the Justice Department got that language, and Republican Senator Thom Tillis has already introduced a bipartisan ethics bill to the White House for consideration.
Sources: CoinGape, Bitcoin.com News
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