Senate Delays Clarity Act Vote Amid Scheduling Issues

The US Senate has delayed its vote on the Clarity Act, a key piece of crypto market-structure legislation, until September. This move comes during the Senate's summer recess, pushing any legislative action on the bill to the fall.

The Clarity Act aims to delineate jurisdiction over digital assets between the SEC and CFTC. It has already passed the House and its passage is seen as crucial for regulatory clarity in the crypto sector.

According to Politico, the delay is due to scheduling issues rather than a formal withdrawal of the bill from consideration. This postponement has led to decreased confidence in a near-term resolution, with market odds for the bill's passage this year falling to 15.5% from 18% just a day prior.