Senate Crypto Bill Stalls, Regulators Eye Increased Oversight

The US Senate has adjourned for its August recess without reaching an agreement on the Clarity Act, a landmark proposal aimed at regulating digital assets.

Majority Leader John Thune (R-S.D.) had teed up a vote to proceed with the measure when the chamber returns in mid-September. However, this development has prompted federal regulators to signal that they may increase oversight if lawmakers fail to reach a compromise.

The Clarity Act would grant the Securities and Exchange Commission and the Commodity Futures Trading Commission additional power to regulate digital assets.