The Senate shelved the CLARITY Act for Russia sanctions, and with Mitch McConnell sidelined, the crypto bill may need eight Democrats instead of seven.
Senate delayed CLARITY Act vote past Aug 8 recess; 60 votes needed with McConnell absent—passage odds fell 82%→35% on Polymarket. Regulatory uncertainty persists for crypto players; JPMorgan–Coinbase clash over stablecoin yield exposes governance framework gaps.
The Senate has pushed the CLARITY Act to the back of the queue, spending its final pre-recess days on federal nominations and a Russia sanctions bill instead.
The crypto industry's most important legislation is now unlikely to see floor time before next week.
That's a problem, because the Senate breaks for recess on Aug. 8, and the bill still doesn't have the votes.
The sanctions bill honors the late Sen.
Lindsey Graham (R-SC), whose funeral occupies the chamber Tuesday and Wednesday.
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