Crypto
Clarity Bill Hits Roadblock Ahead of Senate Summer Break
The US Senate's summer break has put the Clarity bill in jeopardy. This comprehensive crypto market structure legislation aims to split SEC and CFTC oversight, give exchanges a path to register, and set clear token classifications.
Banking lobbyists are pushing last-minute changes to derail the compromise agreed upon weeks ago. With little room for error and opposition mounting, passage of the bill is far from certain.
The stakes are high: without a clear legal framework, US exchanges and issuers operate in a gray zone, driving activity overseas. Institutional players are already settling tokenized Treasuries, with billions moving on-chain each week.