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Senate Delays CLARITY Act Vote to September, $119M Crypto Push

8/10/2026

Summary

Senate Postpones

The Senate postponed a CLARITY Act vote until September after the August recess.
Senate Leader John Thune (R-South Dakota) filed a cloture motion for September 15, the earliest date to end debate.
Democrats say ethics provision does not stop President Donald Trump, who disclosed over $1.4 billion in crypto income in 2025, from profiting.
The crypto industry spent over $119 million backing pro-crypto 2024 candidates, with super PAC Fairshake contributing more than $128 million.

Summary

Congress Expands Funding

The Act raises the revenue-sharing cap from $21.3 million to $48.8 million and creates a $22.5 million pool.
It limits agent fees to 5 percent and grants a narrow antitrust exemption for standardized eligibility.
The bill makes media-rights pooling voluntary, freezes conference alignment, and caps expansion at 19 schools.
Support includes 27 conferences, the NCAA and leagues, while Congressional Black Caucus and AFL-CIO oppose it, saying it fails to address Black athletes and HBCUs.

History

Historical Context

Dodd-Frank, the 848-page law signed by President Barack Obama on July 21 2010, overhauled U.S. financial regulation after the 2007-2008 crisis, creating the Financial Stability Oversight Council and the Consumer Financial Protection Bureau. Following a 2018 rollback, Congress is now advancing the 2024 CLARITY Act for crypto oversight and a NCAA revenue-sharing plan involving Senate leader John Thune, despite lobbying from Fairshake.

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Senate Postpones

The Senate postponed a CLARITY Act vote until September after the August recess.
Senate Leader John Thune (R-South Dakota) filed a cloture motion for September 15, the earliest date to end debate.
Democrats say ethics provision does not stop President Donald Trump, who disclosed over $1.4 billion in crypto income in 2025, from profiting.
The crypto industry spent over $119 million backing pro-crypto 2024 candidates, with super PAC Fairshake contributing more than $128 million.

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