Senate leader is pushing a major crypto bill to a vote before summer — and he wants everyone on record about where they stand.
John Thune, the Senate Majority Leader, is trying to get the CLARITY Act voted on before senators head home for their August break. The bill is supposed to create clearer rules for cryptocurrency and digital assets in the US.
Here’s the thing: it’s not clear if the bill has enough votes to actually pass. The Senate needs 60 votes to move forward, but Republicans only have 53 seats. That means they need about seven Democrats to come along. So far, that’s uncertain.
A group of Democratic senators, led by Angela Alsobrooks, is pushing back. They’re worried the current version doesn’t do enough to protect everyday consumers or stop illegal financing. They also want stricter ethics rules — making sure government officials can’t just issue their own digital coins or benefit from crypto deals.
The latest version of the bill, released on July 22, does include a temporary ethics rule. It would ban the president, vice president, and other senior federal officials from issuing or sponsoring digital assets. But that rule only lasts until 2029.
Here’s some good news for the bill: the police union that initially opposed it has flipped. The National Fraternal Order of Police, which represents over 382,000 officers, now supports it. They were worried the bill would make it harder to investigate crypto crimes. After reviewing the updated language, they’re satisfied that police and prosecutors can still do their jobs.
But here’s the reality: Thune might not have the votes. A failed vote would be embarrassing and could actually slow down crypto regulation even more. Right now, prediction markets give the bill only about a 33% chance of becoming law in 2026.
The vote before August could be the make-or-break moment. If it passes, negotiations can keep moving forward with real momentum. If it fails, the whole thing gets caught up in the messy midterm election cycle, where everything moves slower and priorities shift.
