Counting down the days: State of Crypto

The Senate is going on its summer break in a week, leaving next to no time left to sort out its remaining priorities in August. And obviously, the fate of Clarity is one of those priorities.

You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.

The narrative

As of Friday, July 31, the Senate had not filed a motion to proceed for the Digital Asset Market Clarity Act, the first required step in advancing the bill through the Senate.

Why it matters

Time is running short for the Clarity Act to make it through the Senate in 2026. We're at the point now where the industry is saying that a procedural vote this week could tee the bill up for passage when the Senate returns from recess in September. Though unlike death and taxes, this is far from certain.

Breaking it down