Senate Delays Crypto Bill Vote Until September Amid Ongoing Negotiations
The U.S. Senate has delayed its vote on the CLARITY Act until September due to ongoing negotiations between lawmakers and the White House.
The bill, which aims to provide regulatory clarity for the crypto market, had been expected to come up for a procedural vote before Congress's August recess.
However, several issues remain unresolved, including a bipartisan ethics proposal led by Senators Thom Tillis and Ruben Gallego, stablecoin yield regulation, and provisions related to the Bank Regulatory Clarity Act (BRCA).
Coinbase CEO Brian Armstrong expressed frustration with the delay, stating that 'the remaining question is no longer whether additional compromises can be reached, but whether the Senate is prepared to bring the legislation to a vote.'