Clarity Act Stalls Again as Democrats Refuse Support

US lawmakers are pushing for the passage of the Clarity Act, a bill aimed at establishing clear regulations for the crypto market. Senator Dave McCormick, a Republican, emphasized that 'the time for delay is over' and urged his colleagues to bring the bill to the Senate floor for a vote.

The bill has been stalled due to concerns raised by banking chiefs about stablecoin yield and ethics. A revised draft of the bill has addressed these issues, including a ban on officials and their families issuing or promoting crypto.

However, not all lawmakers are in favor of the bill. Senator Elizabeth Warren, among others, has criticized it for allegedly allowing President Donald Trump to profit from crypto investments and benefiting criminals.