The CLARITY Act, a major crypto market structure bill, faces further delays after House Republican leadership canceled voting weeks scheduled for September 21st and 28th, leaving only one meaningful week of legislative session before midterm elections. Polymarket odds of the bill’s approval have dropped to 18%, reflecting heightened uncertainty. Despite the setback, House Financial Services Committee Chairman French Hill remains optimistic, calling a September 15th vote an important test. Meanwhile, the SEC and CFTC are advancing their own crypto rulemaking, raising questions about whether agency-led rules alone can unlock institutional capital.
The CLARITY Act faces fresh delays after House Republican leadership canceled the voting weeks of September 21st and 28th, leaving lawmakers with only one meaningful week of legislative session before the midterm elections. As a result, even if the Senate passes the bill quickly, the House may not have enough time to take up the Senate-passed legislation before members leave to campaign.
Major disagreements over the bill’s substance remain unresolved, further guaranteeing delays. House Financial Services Committee Chairman French Hill described September 15th as an important test for the CLARITY Act but cautioned it is not a vote that would make the bill law.
According to French Hill, speaking with Fox Business, “…we passed the CLARITY Act in the House last summer with 78 Democratic votes. It is time for the Senate to join us and pass the CLARITY Act.” He added, “This important vote that Leader Thune has scheduled September 15th at 3:00 pm will make the determination, can Democrats work with Republicans and make sure America leads the world in distributive ledger technology and financial services?”
Polymarket odds of the CLARITY Act’s approval currently sit at 18%, marking a significant drop from earlier days. Meanwhile, the SEC and CFTC are moving ahead with their own crypto rulemaking, and if the CLARITY Act stalls, regulatory activity could accelerate. Whether agency-led rules alone will be enough to unlock the institutional capital waiting for legislative clarity remains uncertain.
