The Clarity Act, designed to clarify the division of roles between the SEC and the CFTC on cryptocurrencies, will not be adopted before the summer recess of U.S. senators on Friday, August 7. John Thune, Senate Majority Leader, confirmed there is simply not enough time remaining to complete debates and organize a final vote. Polymarket odds for the bill’s passage in 2026 have plummeted from 82 % in February to 28 %, a 54-point drop over six months. The legislation had nonetheless passed the Senate Banking Committee by a 15-9 vote, and a compromise had been reached on the contentious issue of stablecoin passive yields. The postponement until September leaves the U.S. crypto industry without a clear regulatory framework to distinguish a token from a security.
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