Crypto Clarity Act Delayed Until September
The Crypto Clarity Act, which aims to clarify regulatory responsibilities between the SEC and CFTC, has been delayed until September. Senate Majority Leader John Thune confirmed that a floor vote will not take place before the chamber returns from summer recess on September 14.
The delay is being described as a scheduling issue, rather than a withdrawal of the bill, which already passed the House and has bipartisan backing. The act seeks to draw a clear line between the two regulatory bodies over who oversees digital assets.
Crypto markets reacted negatively to the news, with the total market cap dropping by 0.55% and Bitcoin (BTC) falling 0.76%. Ethereum (ETH) slipped 0.60%, while XRP dropped 2.40%. The delay is seen as a setback for timing, rather than a threat to the bill's prospects.
Traders are now looking towards September 14, when the Senate returns and a cloture vote would require 60 yes votes. Until then, price action across major coins will likely track technical levels alongside any fresh regulatory headlines.