Senate Delays Clarity Act Vote Until September Amid Tight Election Schedule
The U.S. Senate has delayed a crucial vote on the Clarity Act, a bill aimed at regulating the crypto market structure, until September. This move comes after lawmakers failed to resolve disputes before recess and will now face intense pressure to pass the measure before the November midterm elections.
According to Senate Majority Leader John Thune, R-S.D., the procedural vote will take place immediately after lawmakers return from their month-long break in mid-September. The delay has narrowed the window for supporters of the bill, who still need 60 votes to advance it and must secure Democratic backing while Republican support has weakened.
Cody Carbone, CEO of The Digital Chamber, expressed disappointment with the outcome but remains optimistic that negotiations can continue during recess to find common ground. Ji Hun Kim, CEO of the Crypto Council for Innovation, echoed this sentiment, stating that his organization will continue working with senators from both parties and the administration to resolve outstanding issues.