Senate Delays Crypto Regulation Bill Amid Ethics Dispute
The US Senate has postponed consideration of the Digital Asset Market Clarity Act until at least September. Majority Leader John Thune announced the delay as lawmakers began their August recess.
The bill, which aims to establish a comprehensive federal regulatory structure for digital assets, has been met with significant obstacles in its advancement. Despite receiving approval from both the Senate Banking Committee and Agriculture Committee, the measure lacks the necessary support to overcome a Senate filibuster.
A contentious ethics clause targeting President Trump's financial disclosures has emerged as the primary hurdle. Trump's acceptance of negotiated language was insufficient for some Democratic senators, who raised objections regarding the proposed wording.