《CLARITY Act》, which was passed in September, still holds a glimmer of hope as the U.S. Senate initiates the preliminary voting process

BlockBeats News, August 8th. Following an overnight voting session, United States Senate Majority Leader John Thune submitted a "motion to proceed" for the "Cryptocurrency Market Structure Act" (known as the CLARITY Act) early Saturday morning local time, officially initiating the preliminary procedural voting process for the bill in the Senate. This marks the most significant progress to date.

While this came too late to hold a vote in the Senate before the August recess, it sets the foundation for almost immediate initiation of the first procedural vote upon return in September (potentially the day after reconvening). The bill has now entered the Senate's complex cloture procedure, requiring 60 votes to advance, with the ultimate goal of enactment. With only about three weeks of session in September, senators will then turn their focus to the mid-term elections in November.

The bill currently faces key disagreements that need to be negotiated: governmental ethics provisions (barring senior government officials, including former President Trump, from supporting crypto projects); illicit finance protection provisions; stablecoin yield and reward issues. The bill may require the support of at least 10 Democratic senators across party lines to reach the 60-vote threshold. Currently, there are still concerns among Democrats, especially regarding the ethics provisions. A revised proposal drafted by bipartisan senators has been submitted to the White House for at least a week without a response, and Trump may need to weigh in to drive bipartisan cooperation. Industry insiders still hope to bridge the gaps in September.

If partisan divisions persist, the likelihood of the bill passing this year remains low; the new Congress next year may need to restart the legislative process. Thune had previously hinted at the unlikelihood of a final vote in August, prioritizing federal appropriations, sanctions on Russia, and personnel nominations. This last-minute initiation of the procedure is seen as a positive signal, providing a glimmer of hope for the CLARITY Act's passage in 2026, contingent on the negotiation outcomes in the coming weeks.