Crypto Legislation Stalled Until Lame Duck Session

The US Congress's push for crypto legislation has hit another roadblock, and it may not pass until after the midterm elections.

Last week, the House of Representatives canceled its planned votes on the CLARITY Act due to a lack of time, leaving only four days for the Senate to hold a procedural vote on September 15.

The bill, which aims to regulate digital assets and stablecoins, still faces significant hurdles. Republican senators have expressed pessimism about its chances, with Sen. Mike Rounds (R-SD) saying its fate 'does not look good right now.'

The White House has been accused of showing zero interest in agreeing to restrictions on elected officials' ability to profit from crypto ventures, which is a major sticking point for Democrats.