Clarity Act Stalls in Senate, Republicans Cite Uncertainty Over Ethics Provisions

The Clarity Act, a cryptocurrency law expected to create a regulatory framework for the US market, may face hurdles before its Senate vote. Two Republican senators, Mike Rounds and Thom Tillis, expressed concerns about the bill's chances of passing in its current form by next week's procedural vote on September 15.

Rounds stated that 'the current state of the Clarity Act does not look positive for its future,' while Tillis warned that the bill's fate depends on negotiations with the White House to resolve disagreements over ethics provisions. The Democrats are pushing for ethics clauses covering the president and his family, which has been a key demand.

A White House spokesperson maintained support for the passage of the Clarity Act, citing President Donald Trump's commitment to protecting US competitiveness in the digital asset space.