Clarity Act Vote Set for September 15: What It Means for Crypto

The passage of comprehensive crypto legislation in the U.S. has stalled after the Senate broke for summer recess without voting on the Clarity Act, or Digital Asset Market Clarity Act.

The legislation would set out a framework for handling digital assets in the U.S., and many had been optimistic it would become law by now.

Lawmakers are now talking about pushing it through in September, but it still faces major hurdles.

The Clarity Act could lend legitimacy to the entire asset class and eliminate the risk of unexpected charges being brought against a popular crypto or crypto exchange for issuing or trading an unregistered security.