CLARITY Act Vote Delay Imperils U.S. Crypto Legislation

The U.S. crypto industry is facing potential delays in the passage of the CLARITY Act, a bill aimed at regulating market structures.

House Republicans have canceled the final two weeks of September's session, pushing back consideration of the legislation until after the midterm elections.

This decision has raised concerns among lawmakers and industry experts, who fear that the delay could jeopardize the bill's chances of becoming law.

Brendan Pedersen warned that this is 'potentially very bad news for the crypto industry,' while Alex Thorn, head of firmwide research at Galaxy Digital, stated that it's 'extremely unlikely' the CLARITY Act will pass before the midterm elections.