Investor confidence in the CLARITY Act’s passage this year is faltering, according to CNBC reporter Tanaya Macheel. Many investors she has spoken with now view the legislation as effectively “dead in the water” for 2026 and expect delays stretching into 2027.
The pessimistic outlook persists despite lawmakers scheduling a crucial Senate procedural vote for September 15. Before the Senate’s August recess, Senate Majority Leader John Thune filed cloture on the motion to proceed, which would require 60 senators to advance the bill to formal consideration.
Macheel acknowledged that passage would provide a positive catalyst for the cryptocurrency industry. However, she noted that crypto would likely persist without the legislation, citing a more favorable regulatory environment under the current administration. “The SEC and the CFTC are still largely much more supportive of the crypto industry than we could say about the previous administration,” she said.
Coinbase CEO Brian Armstrong believes the necessary support for clearing cloture remains achievable, and Vice President JD Vance sounded cautiously optimistic about prospects, stating “We’re working on it every day” and “I feel good about it.”
It’s important to note that even clearing the procedural cloture vote would only open the Senate’s consideration of the bill, meaning passage would not be immediately assured even if the September 15 vote succeeds.
Meanwhile, Binance co-founder Changpeng “CZ” Zhao made a bullish forecast for Bitcoin at Bitcoin Asia 2026, claiming the cryptocurrency will reach $1 million “much quicker” than within 25 years and could eventually become more important than gold. The forecast came despite the deteriorating regulatory outlook surrounding the CLARITY Act.
Key facts
- Investors believe the CLARITY Act is “dead in the water” for 2026 and could be delayed to 2027
- A Senate procedural vote is scheduled for September 15
- Clearing the procedural vote would only begin Senate consideration, not guarantee passage
- The SEC and CFTC are viewed as more supportive of crypto than the previous administration
- Binance co-founder CZ predicts Bitcoin will reach $1 million much sooner than 25 years