CLARITY Act Delayed Until September: Senate Lacks Sufficient Support
The CLARITY Act, crucial legislation for crypto market infrastructure, has been delayed until September. Senate leadership decided they lacked sufficient support to hold a floor vote on the bill, which aims to protect consumers while enabling digital asset innovation.
Crypto Council for Innovation (CCI) CEO Hun Kim expressed disappointment at the postponement but stated that the CCI remains committed to ensuring the U.S. enacts comprehensive market structure legislation.
Kim emphasized that every day without such a framework pushes American users and builders offshore, leaving consumers at risk.
Coinbase CEO Brian Armstrong attributed the delay to some group trying to block or stall the legislation. He noted that both sides, the crypto industry and banking sector, had compromised, but ultimately decided not to hold a vote.