CLARITY Act Passage Threatened by Scheduling Setback

The CLARITY Act, a major crypto market-structure bill, has faced yet another setback in its passage through the Senate. The scheduled September 15 test was canceled due to scheduling issues, putting the bill's chances of becoming law this year at risk.

However, the National Sheriffs' Association (NSA) has unexpectedly shifted from opposing the bill to a neutral stance. This change comes after they earlier warned that it could hinder law enforcement efforts against illicit finance involving digital assets.

The CLARITY Act aims to provide clarity and structure to the crypto market, but its passage is uncertain due to ongoing regulatory challenges and concerns.