The U.S. Senate will not vote on the crypto market structure bill before it breaks for the rest of the month, though industry leaders still hope for a vote in September, when the Senate returns to Washington on Sept. 14.
Why the vote stalled
The crypto industry had hoped the Senate would stay in session a few more days to resolve the Digital Asset Market Clarity Act, but senators from both parties had major unresolved issues.
One source told CoinDesk that Senate Democrats did not want to vote on the bill before the midterm election, and would have delayed the rest of the Senate’s agenda if Clarity wasn’t punted to next month.
Senate Majority Leader John Thune confirmed there would be no August vote, but pointed to next month.
A statement through his spokesperson said:
“The Dems are insistent on no Clarity vote… I worked with sponsors of the bill. [Senator Cynthia Lummis] was great, and we’re getting that queued up first thing when we come back.”
The remaining sticking points
To pass, the bill needs 60 votes, and it’s unclear if it even has 50, with several Republicans opposed and Democrats pressing for a stricter ethics provision targeting President Donald Trump, who disclosed over $1 billion in crypto business income for 2025.
Trump had agreed to an ethics provision brokered by Lummis, but Senators Thom Tillis and Ruben Gallego drafted a counter-proposal sent to the White House in late July. It has not publicly responded.
Industry reaction
Crypto Council for Innovation CEO Ji Hun Kim called the delay “disappointing,” adding:
“Every day without such a framework pushes American users and builders offshore and leaves consumers at risk.”
