Senate Delays Crypto Clarity Act Vote Until September

The US Senate has delayed its vote on the Digital Asset Market Clarity Act until September, giving hope to industry leaders who had been counting on a decision before the break. The bill aims to provide clarity on the crypto market structure and has been met with both support and opposition from lawmakers.

Senate Democrats are reportedly hesitant to vote on the bill before the midterm election, which could have pushed back the rest of the Senate's agenda if not delayed. Majority Leader John Thune confirmed that there would be no August vote, but pointed to next month as a possible time for a decision.

The bill needs 60 votes to pass and currently lacks support from several Republicans who are opposed to its provisions. Additionally, Democrats are pressing for stricter ethics rules targeting President Donald Trump's disclosure of over $1 billion in crypto business income for 2025.

Crypto Council for Innovation CEO Ji Hun Kim expressed disappointment at the delay, stating that 'every day without such a framework pushes American users and builders offshore and leaves consumers at risk.'