Crypto Industry Launches Last-Ditch Effort for Clarity Act Ahead of Senate Vote
The US crypto industry has launched a renewed push in support of the Clarity Act ahead of a key procedural vote in the Senate on September 15. The bill aims to establish clear rules and divide oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
However, some Republican lawmakers are worried that the bill could fail if they disagree over ethical concerns around President Trump's crypto interests. The White House has urged Congress to pass the legislation without making any changes.
The industry is trying to drum up support for the bill by highlighting consumer protection and endorsements from outside the company. They're also criticizing the banking industry, which has opposed some sections of the Clarity Act, particularly those governing stablecoin rewards.