Senate Delays Vote on Crypto Market Structure Bill CLARITY Act

Crypto market structure bill CLARITY Act is still awaiting a vote in the US Senate. Despite being a priority for Senate Majority Leader John Thune, the bill has yet to be placed on the official Senate floor schedule.

Thune stated that he believes a procedural vote on the CLARITY Act will occur before the end of the August recess, but it remains unclear if cloture will be sought. Crypto analyst Ted Pillows predicted that if cloture is scheduled for Wednesday, the first procedural vote would likely take place on Friday.

Cathie Wood's ARK Invest purchased Coinbase and Circle stocks totaling $9.42 million on August 3, ahead of the potential CLARITY Act vote. The buying spree came as the Senate deliberated on the bill.