Clarity Act Vote Stalls as Senate Republicans Reject Democrat Counter-Proposal
The vote on the Clarity Act in the US Senate is just minutes away. A crucial procedural vote will determine whether the bill can move forward and become a comprehensive regulation for the cryptocurrency market.
Negotiations between Republicans and Democrats have stalled, with Republicans rejecting the Democrats' latest counter-proposal. Despite over 126 changes requested by the Democrats being incorporated into the final draft, including a 'circuit breaker' mechanism to address stablecoin concerns, the bill still lacks the necessary 60 votes to proceed.
The procedural vote is scheduled for Tuesday at 9:15 PM Turkish time. If the bill passes this hurdle, it will move on to formal debate in the Senate. Republicans argue that their proposal is the 'final, best, and ultimate' version, while Democrats are pushing for additional restrictions on public officials owning large amounts of cryptocurrency and stricter rules for software developers.