The Clarity Act was not voted on before the August recess; the matter was postponed until September, when the Senate returns.
The Senate's August recess began on August 7-8. Time was initially allocated to matters such as nominations and sanctions against Russia.
Thune stated, "Democrats are not allowing a vote on Clarity."
The Senate will return around September 14.
Thune said, "We will prioritize it."
If the law doesn't pass, the SEC and CFTC will continue writing their own rules. The GENIUS Act (stablecoin) is already in effect, so markets won't completely shut down, but "clarity" won't be achieved.
The Senate's August recess began on August 7-8. Time was initially allocated to matters such as nominations and sanctions against Russia.
Thune stated, "Democrats are not allowing a vote on Clarity."
The Senate will return around September 14.
Thune said, "We will prioritize it."
If the law doesn't pass, the SEC and CFTC will continue writing their own rules. The GENIUS Act (stablecoin) is already in effect, so markets won't completely shut down, but "clarity" won't be achieved.