Industry leaders are urging the Senate to advance the Clarity Act before the August recess as the legislative calendar continues to tighten.

Kristin Smith said the bill would improve consumer protections, bankruptcy rules, and regulatory clarity for digital assets. Eleanor Terrett reported that a Senate vote is now more likely next week as other legislation takes priority.

The Senate is facing growing pressure to move the Clarity Act forward before lawmakers leave for the August recess, with industry leaders warning that limited floor time could slow the bill’s progress. Kristin Smith, President of Solana Institute, called on lawmakers to act quickly, while journalist Eleanor Terrett said expectations for a Senate vote this week have faded because other measures are taking precedence.

Legislative Calendar Draws Fresh Attention

Smith said the crypto industry is closer to securing the Clarity Act than at any previous point. In her view, only a small number of issues remain after thousands of hours of work by Senate staff, lawmakers, and the White House.

She argued, however, that the legislative calendar has become the main obstacle. Smith noted that standalone bills can consume substantial Senate floor time because they must move through multiple procedural votes.

She pointed to the GENIUS Act, which spent about four weeks on the Senate floor before passage. Smith said the Clarity Act needs to move more quickly because September will bring government funding deadlines and the National Defense Authorization Act. October will include the election schedule, followed by a traditionally uncertain lame-duck session.

For the crypto industry, the timing matters because the bill is being framed as a step toward clearer federal rules rather than a narrow technical fix. The longer it waits, the more it has to compete with other must-pass items on the Senate calendar.

Consumer Protection Remains Central

Smith said the legislation would establish federal registration requirements, customer fund segregation, disclosure standards, and bankruptcy protections. She said those safeguards were missing during the FTX collapse, which left an estimated $8 billion shortfall in customer funds.

She also said the bill would give law enforcement clearer authority, expanded training, and stronger coordination with the industry. In addition, Smith highlighted that the legislation includes the Blockchain Regulatory Certainty Act, which protects developers building non-custodial software from being treated as money transmitters.

Those provisions are central to the industry’s case that the bill addresses both consumer risk and legal uncertainty in the same framework. Supporters are presenting it as a way to define responsibilities more clearly for firms, developers, and regulators operating in digital assets.

Senate Focus Shifts to Next Week

Terrett reported that Senate Majority Leader John Thune is now unlikely to hold a cloture vote this week. According to her, Senate rules required the motion to be filed earlier in order to allow a Thursday vote.

Attention has instead shifted to next week, as the Russia-Iran sanctions bill is expected to receive priority. Terrett added that industry participants believe it is essential for Senate leadership to begin the cloture process before lawmakers depart for the August recess.

That leaves the bill’s near-term path tied to floor scheduling, procedural timing, and whether it can be advanced before the chamber moves on to other priorities.