The Republican leader in the US Senate, John Thune, has not yet initiated a vote on the CLARITY Act crypto bill. On August 7, lawmakers take a month-long vacation to prepare for the November elections. Despite the tight deadlines, Tune remains committed to holding a procedural vote. However, the Democrats' staff says that the work on the document has actually reached an impasse due to unresolved disagreements.

The parties face three key issues: ethics, illegal financing, and a text from the agricultural committee. Ethics remains the most pressing issue, as Democrats demand to take into account potential conflicts of interest related to the digital assets of high-ranking officials. The powers of state prosecutors and consumer protection mechanisms are also being actively discussed. The Democrats still do not support the January version of the text proposed by the relevant committee.

TD Cowen analysts believe that the only way out would be to postpone the holidays or cancel the rules, which is unlikely. Senators prefer to return home to participate in election campaigns. Despite the political uncertainty, the industry remains confident about the future. Bitwise investment Director Matt Hougan previously noted that the crypto industry will continue to actively develop even without the adoption of this important law.