US Senate Calendar Shrinks: Will The CLARITY Act Face Another Delay?

As the crypto market expects the CLARITY Act passage this month, the US Senate’s short September calendar sparks concerns of another delay. With the Senate having fewer voting days than expected, the crypto bill could face further pressure to move forward on time.

Shorter Senate schedule creates fresh uncertainty for CLARITY Act passage

After the summer recess, the US Senate has returned with a tighter schedule in September. This gives lawmakers less time to work on the highly anticipated CLARITY Act. As House Republicans shortened the congressional calendar, the Senate now has eight fewer voting days. This sparks fresh concerns about whether the market structure would potentially face another delay.

In response to House Republicans’ decision to cancel the September sessions, Galaxy Research Head Alex Thorn stated:

“House republican leadership has canceled votes for the weeks of sept 21 and sept. 28. the house will return sept 14 for 4 days, then leave washington until after the midterms. this makes it extremely unlikely CLARITY can pass before midterms.”

Why did September 15 become a key date for the crypto bill?

The crypto industry was eyeing a potential CLARITY Act passage on September 15 as SEC Chair Paul Atkins shared his optimism. Recently, he stated that the lawmakers are likely to pass the bill on September 15, with the CLARITY Act potentially forwarded to the president’s desk for its final passage. Atkins stated, “The Clarity Act will be voted on in the Senate on the 15th of September. I anticipate and hope that it will be passed by the Senate.”

The Senate has scheduled a cloture vote on September 15, which remains an important step for the progress of the market structure bill. However, the motion needs 60 votes to pass the Senate. This means that the path ahead is not that easy.

The CLARITY Act may still face disagreements during the vote, as debates on several provisions exist. The areas of focus are ethics rules, stablecoin rewards, and anti-money laundering measures. While Democrats have pushed for stronger protections, Republicans have raised concerns about stablecoin rewards.

What’s next for the CLARITY Act?

Interestingly, the September 15 cloture vote will be the next major test for the market structure bill. Only if the Senate gets the needed 60 votes, the CLARITY Act can move forward to the president’s desk. Before a final vote, there are still possibilities for the lawmakers to be engaged in debates, amendments, and more. Thus, even if the September 15 vote happens as planned, it does not guarantee the bill’s immediate passage.

If the day fails to pass the bill and the lawmakers decide to make further amendments, the bill could see more delays. For new amendments, the House would need to approve them before the legislation could reach President Donald Trump. So, the procedures could take longer than expected.