Senate Majority Leader Thune indicates the crypto market structure bill will probably not be completed before the upcoming summer recess.
By Jesse Hamilton|Edited by Nikhilesh DeUpdated Jul 23, 2026, 8:50 p.m. Published Jul 23, 2026, 8:16 p.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on U.S. Senate Majority Leader John Thune expresses doubts about the Clarity Act meeting its deadline. (Finn Gomez/Getty Images) SummaryShow- Senate Majority Leader John Thune expects that the Clarity Act concerning crypto will not pass before the Senate's extended summer break.
- Failing to meet this deadline could hinder its chances for passage in 2026, although Thune mentioned there might be an opportunity to initiate the floor process beforehand, as lawmakers will shift focus to midterm election campaigns.
- White House crypto advisor Patrick Witt countered Thune's remarks, suggesting that the first week of August remains a viable option for progress.
Those involved in drafting the crypto market structure legislation had earmarked August 7 as the crucial date for the Digital Asset Market Clarity Act to be finalized if it were to have a decent chance of passing in 2026. However, according to Senate Majority Leader John Thune, that target is unlikely to be met.
Nonetheless, Thune indicated that there might still be a chance to commence discussions on the Clarity Act in the Senate before the lengthy summer break, which could mitigate the setback of missing the main deadline.
"I would like to at least get Clarity started," he told reporters on Thursday. "We'll see where the votes are."
If the bill can begin discussions prior to the recess, it may still have a chance to be addressed during the limited time available in September, although election-related issues are expected to compete for lawmakers' attention. The legislation has already sparked a heated debate following the release of the latest working draft earlier this week, with members from both parties raising concerns about various provisions, including objections from many Democrats regarding its restrictions on senior government officials, particularly those like President Donald Trump, in their crypto business ventures.
Optimism existed among industry participants and supporters that the Senate could finalize the comprehensive Clarity Act within the next few weeks. However, delaying it until later in the year significantly decreases the likelihood of it passing in 2026.
Thune's team noted that the Senate's immediate focus will be on a bipartisan bill proposing sanctions against Russian officials and tariffs for trading partners, a piece of legislation advocated by Senator Lindsey Graham prior to his recent passing. Thune suggested this bill could reach the floor next week, though Graham's funeral may take precedence for senators in the middle of the week.
In a response to Thune’s comments, White House crypto advisor Patrick Witt expressed to CoinDesk on Thursday that he still sees potential for Senate action during the first week of August. Witt expressed confusion over Thune’s outlook and stated he felt “slightly more optimistic,” though he acknowledged that a final vote in July seems unlikely.
“There's that first week of August that the Senate is in session,” Witt noted in his discussion with CoinDesk TV. “So I wouldn't count it out.”
The upcoming midterm elections are set for November, and lawmakers are anticipated to utilize their summer break for campaigning. The Senate and House will reconvene for approximately three weeks in September, and if the Senate manages to pass the Clarity Act, the House will still need to approve it as well.
The Clarity Act remains a top priority for the crypto industry, even more so than last year’s Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, as stakeholders hope it will establish a permanent legal framework for crypto activities in the U.S.
The Senate's legislative process is intricate and can take several days or longer to navigate through the 60-vote threshold required in that chamber. Currently, the crypto bill faces uncertainty regarding whether it will even secure a majority, as some Republican senators have voiced concerns regarding its treatment of stablecoin yields and the government ethics provisions included.
Senator Cynthia Lummis, a Republican from Wyoming and a key negotiator for the Clarity Act, told CoinDesk in a Wednesday interview that the most contentious elements are still open to amendments, which she believes could attract Democratic support.
Republicans and industry advocates had hoped that bringing the bill to the Senate floor would create a sense of urgency and facilitate negotiations among lawmakers to resolve outstanding issues. This could still occur if Thune can allocate time for the discussion before the recess.
UPDATE (July 23, 2026, 20:51 UTC): Adds response from White House official.
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Crypto Flows, Share and the Selective Rotation
Crypto Flows, Share and the Selective Rotation
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
By CoinDesk ResearchJul 22, 2026Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters:
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
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