The probability that the CLARITY Act will be voted on in the US Senate before the August recess is in decline. Meanwhile, Senator John Thune, the Majority Leader in the Senate, has expressed his view that the legislation may be pushed past the recess. Republican Senator Dave McCormick warned that the stakes are real if the bill is not passed into law. “If the U.S. fails to pass the CLARITY Act, we cede jobs, investment, economic competitiveness, and financial leadership to overseas competitors.” Republican Senator Bill Hagerty added:“America needs clear rules of the road for digital assets that protect consumers, support innovation, and keep jobs and investment here in America.