Crypto Lobby Stuck on Regulatory Framework Bill
The US Senate has adjourned for its August recess without holding a floor vote on the Digital Asset Market Structure Clarity Act, leaving the crypto industry's biggest legislative priority stuck in limbo.
The CLARITY Act, a sweeping 616-page bill that aims to establish a comprehensive regulatory framework for digital assets, cleared the House with a bipartisan vote of 294-134 last July. However, it has been stuck in negotiations and delays ever since, with various stakeholders raising concerns about ethics provisions tied to President Trump's family businesses, law enforcement objections, and banking industry worries.
Senate Majority Leader John Thune confirmed that the vote would be postponed until September, citing Democrats' refusal to agree on a procedural timeline. Sen. Cynthia Lummis, a key supporter of the legislation, called the delay 'frustrating' but remains committed to advancing the bill when Congress reconvenes.