The Senate adjourned on August 8, 2026 without holding a final vote on the Clarity Act. However, Senate Majority Leader John Thune filed cloture on the motion to proceed to the Clarity Act shortly before the Senate left for recess, setting up a procedural vote for September 15, 2026, the day after the Senate returns from its August recess.
The Clarity Act would create a regulatory framework for cryptocurrencies and other digital assets, much like the GENIUS Act did for payment stablecoins in 2025. The American Bankers Association and others have reportedly urged senators to use the Clarity Act to close a loophole that allows digital asset service providers to avoid the existing prohibition on stablecoin interest and yield. Democrats have pressed for language in the bill to prevent federal officials from profiting from businesses engaged in digital currencies, and senators from both parties have raised concerns about the bill’s potential effects on deposit flight from banks and local lending if the loophole is not closed.
Invoking cloture, which does not itself pass the bill, requires 60 votes. With Republicans holding 53 seats, the motion would need support from at least seven Democrats or independents if every Republican voted for it. Negotiators have yet to resolve outstanding disputes over ethics clauses, illicit finance provisions, and how Senate Agriculture Committee text will be incorporated into the final legislation. On the ethics front, Senators Ruben Gallego (D-AZ) and Thom Tillis (R-NC) have sent an ethics compromise to the White House that would let state attorneys general enforce a ban on public officials and their spouses issuing or sponsoring digital assets and would require President Trump to divest from crypto-related businesses, though Trump has not signed off on it. Republican support has also wavered, with Senator Josh Hawley (R-MO) saying he will not vote for the bill until it addresses deposit flight concerns.
Senate lawmakers will return to Washington on September 14, leaving a narrow window to debate and vote on the Clarity Act before attention shifts to the upcoming November mid-term elections.