CLARITY Act Delayed Until September Amid Senate Deadlock Over Crypto Ethics

The U.S. crypto regulation bill, known as the CLARITY Act, has been delayed until September due to a Senate deadlock over ethics provisions.

Majority Leader John Thune announced that Democrats are still considering work on the bill, specifically regarding an ethics provision that affects politician's crypto holdings.

Despite industry pressure for a vote this week, the bill will now be put on hold until after the August recess.

Senators Thom Tillis and Ruben Gallego have proposed a clause requiring the president and other federal officials to divest any ownership in a digital asset company worth more than $1 million if it represents over 10% of the firm's value.