CLARITY Act Vote in Jeopardy as Democrats Firmly Oppose

The CLARITY Act, a major bill on crypto market framework, is still waiting for its procedural vote in the U.S. Senate.

Senate Majority Leader John Thune said that he believes a procedural vote will be held before the end of the August recess.

Crypto analyst Ted Pillows claims that if cloture is scheduled for Wednesday, the earliest vote would likely be on Friday.

The bill has not been introduced as a cloture motion yet and has not appeared on the official Senate floor schedule.

Cathie Wood's ARK Invest made significant purchases of Coinbase and Circle stocks ahead of the potential vote, totaling $9.42 million on August 3.