Senate Delays Crypto Regulation Bill Amid Democrat Opposition

The US Senate has put off voting on the Clarity Act (H.R. 3633), a landmark bill aimed at regulating cryptocurrency, due to opposition from Democrats. The chamber is expected to go into recess as early as Friday without taking up the issue.

Senate Majority Leader John Thune confirmed that the initial procedural vote will not be held, citing the opposition from Democrats. He stated that the Senate will revisit the Clarity Act in September when they reconvene.

Proponents of the bill had set a self-imposed deadline to pass it by August 7, but this target has been missed.