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Three senators oppose CLARITY Act on ethics grounds as Senate eyes vote before Aug. 10

WASHINGTON, July 18. Three U.S. senators are opposing the CLARITY Act on ethics grounds, with Senate Majority Leader John Thune reportedly saying the chamber will consider a vote on the crypto market structure bill before Aug. 10. Whether the legislation has enough Democratic support to pass is unclear, the report shows.

By Simone Attah2 min read
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Key takeaways

  • Three U.S. senators are opposing the CLARITY Act, a crypto market structure bill, on ethics grounds.
  • Senate Majority Leader John Thune reportedly said the chamber will consider a vote on the bill before Aug. 10.
  • It is unclear whether the CLARITY Act has enough Democratic support to pass the Senate.
  • The report does not name the three opposing senators or specify the nature of their ethics objections.
  • As majority leader, Thune controls the Senate floor schedule and set the pre-Aug. 10 timeline.

WASHINGTON, July 18. Three U.S. senators are opposing the CLARITY Act on ethics grounds, with Senate Majority Leader John Thune reportedly saying the chamber will consider a vote on the crypto market structure bill before Aug. 10. Whether the legislation has enough Democratic support to pass is unclear, the report shows.

Ethics objections add a specific headwind

The three senators have raised ethics-based concerns about the legislation, according to the source. The report does not name them by senator or specify the nature of the objections they have cited.

The CLARITY Act is described as a crypto market structure bill. Thune, as majority leader, controls the Senate floor schedule. His reported pre-Aug. 10 target sets the timeline for bill managers and opponents alike.

Democratic votes are unresolved

Senate passage requires a working majority, and the Democratic vote count is the key open variable. The source indicates it is unclear whether the bill commands enough Democratic support to clear the chamber.

Three senators in ethics-based opposition. Uncertain Democratic backing. Thune's reported Aug. 10 window is where both questions must resolve, if they do.

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Frequently asked

What is the CLARITY Act?

The CLARITY Act is described as a crypto market structure bill currently under consideration in the U.S. Senate.

Why are three senators opposing the bill?

The three senators have raised ethics-based concerns about the legislation, though the report does not name them or specify the nature of their objections.

When could the Senate vote on the CLARITY Act?

Senate Majority Leader John Thune reportedly said the chamber will consider a vote on the bill before Aug. 10.

Is the bill expected to pass?

It is unclear, as the key open variable is whether the bill commands enough Democratic support to clear the chamber.