US Senate Postpones Vote on Clarity Act to Next Week

Key Points of the Article

• The Clarity Act vote is unlikely to happen this week.
• Focus shifts to discussions starting next week.

Dark Clouds Over the Vote

Eleanor Terrett, a reporter on US cryptocurrency policy, reported on the 29th via her X post that Senate Majority Leader John Thune is becoming less likely to hold a vote on the Clarity Act’s cloture this week.

Procedurally, a cloture motion must be filed on the same day to set a vote for Thursday, but sources told Terrett that discussions on the Russia-Iran sanctions bill are expected to take priority.

As a result, the focus is shifting to next week. Industry insiders have informed Terrett that it is "essential" for the leadership to at least initiate the cloture process before the recess in August.

Background on Sanctions Bill Priority

The Russia-Iran sanctions bill is being discussed under the name of Republican Senator Lindsey Graham, known as the "Lindsey O. Graham Russia-Iran Sanctions Act." The senator passed away suddenly shortly after visiting Ukraine in mid-July.

His sister, Darleen Graham, has taken over his Senate seat and is pushing for the bill's passage. The bill has gathered over 60 co-sponsors from both the Republican and Democratic parties, aiming to secure the 60 votes needed for cloture.

Constraints on Previously Reported Discussion Schedule

In the Senate's procedural structure, only one bill can be advanced to the floor at a time. The mechanism that makes a bill a "pending matter" after cloture is passed is putting pressure on the schedule for the Clarity Act.

Procedures Leading Up to the Floor Vote

Crypto media outlet Crypto in America also reported on the 28th that Republican senators have begun moving towards floor discussions, but securing the 60 votes needed for cloture remains the biggest hurdle. The leadership is facing pressure to prioritize multiple bills in the remaining two weeks before the recess.

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