Clarity Act Hitting Snags as US Senate Vote Looms
The US Senate's Clarity Act, aimed at creating a regulatory framework for cryptocurrencies, may face a significant hurdle before its expected vote next week. According to two Republican senators, Mike Rounds and Thom Tillis, the bill's current state does not look positive for its future.
Rounds stated that 'the current state of the Clarity Act does not look positive' ahead of the Senate's procedural vote on September 15. Tillis warned that the fate of the law depends on negotiations with the White House regarding ethics provisions, specifically covering the president and his family.
A Democratic official revealed that little progress has been made on these ethics regulations, which are a key demand for the Democrats. The White House maintains its support for the passage of the Clarity Act, stating that President Donald Trump is committed to seeing the law pass through Congress.