Overview
- Senate leaders moved floor time on Tuesday to confirm 74 presidential nominees and advance a Russia sanctions package, which effectively shelved the CLARITY Act before the August 8 recess.
- Negotiators have not resolved core disputes over an ethics ban on officials’ crypto ties, whether state attorneys general can enforce that ban, and limits on yield‑bearing stablecoin products.
- Prediction markets and analysts slashed passage odds after the delay, with Polymarket retreating to about 27% and Galaxy Digital estimating roughly 30% likelihood of enactment in 2026.
- SEC Chair Paul Atkins offered technical help to Congress and warned the agency could pursue rulemaking to fill gaps if lawmakers do not act, signaling a possible regulatory fallback.
- Senators Ruben Gallego and Thom Tillis are preparing revised ethics language while the bill would still need roughly eight to ten Democratic crossover votes to clear a 60‑vote filibuster threshold, pushing any real vote to September or beyond.