Thune says CLARITY Act unlikely to pass Senate before summer recess

U.S. Senate Republican Majority Leader John Thune said the CLARITY Act appears unlikely to pass before the Senate’s summer recess. According to CoinDesk, the industry sees a high chance of the bill passing this year only if it makes meaningful progress by Aug. 7, the last effective legislative day before recess on the local calendar. Thune said he wants to begin the Senate’s review process for CLARITY at least before the summer break, which would preserve some chance of advancing the bill during the short remaining session in September even if it misses the key timeline. If it is pushed to September, however, the bill would have to compete for priority with other major legislation ahead of the midterm elections.