Clarity Act Faces Delays in US Senate
Crypto market structure legislation has been facing delays in the US Senate, according to Senate Majority Leader John Thune. The Digital Asset Market Clarity Act was expected to pass before Congress' summer break on August 7, but that deadline may be missed.
Thune stated that he would like to 'at least get Clarity started' before the recess, which could put it in a potential viability for passage in September. However, the legislation has faced contentious debate, with members of both parties taking issue with various sections and a large number of Democrats opposing its approach to limiting senior government officials in their crypto business activities.
The next immediate priority for Senate floor time will be a bipartisan bill to impose sanctions on Russian leadership and tariffs for trading partners. This legislation was championed by Senator Lindsey Graham before he died earlier this month, and Thune signaled that it is expected to get to the floor next week.