CLARITY Act Faces Crucial Test in US Senate on September 15

The fate of the CLARITY Act in the US Senate is uncertain as it faces a crucial test on September 15. According to Grayscale, the chances of passage this year appear low due to the Senate calendar and election-year politics.

Despite the challenges, lawmakers have not shelved the bill, and Senate Majority Leader John Thune has filed cloture on H.R. 3633, setting a procedural test for September 15.

The development leaves US crypto policy on two tracks: Congress can establish a permanent market structure framework, while the Securities and Exchange Commission (SEC) moves ahead with its own agenda covering issuance, custody, trading, and onchain securities.