Senate Delays Clarity Act Vote Until September Amid Yield Payment Disputes

The US Senate has delayed its vote on the Clarity Act, a bill aimed at regulating the digital-asset market structure, until September. This move effectively rules out passage before the August recess.

Democrats are holding out for more talks over ethics provisions and yield payments on crypto products like stablecoins. They say that negotiations are needed to iron out these details before moving forward with a vote.

The fate of the bill now hinges on whether Democrats and Republicans can reach agreement on key issues, including yield payments. The Senate will prepare the legislation so it can move as soon as lawmakers return from recess in September.