Senate Pushes CLARITY Act Vote to September Amid Democratic Opposition
The Senate's much-anticipated vote on the CLARITY Act has been pushed to September after missing its August deadline. Senate Majority Leader John Thune expects Senators to stay in Washington over the weekend or early next week, and a cloture filing may allow the bill to advance to a Senate floor vote.
The delay is largely due to Democratic opposition, with Senator Elizabeth Warren pressing for stronger ethics provisions, a key sticking issue. She has stated that 'crypto legislation' written by the industry is not good for the sector, and wants legislation that would protect consumers.
Cardano founder Charles Hoskinson criticized Warren's stance, saying she wants to ban all cryptocurrencies and blockchain technology. The CLARITY Act aims to provide comprehensive market structure legislation in the US, but its passage has been elusive due to disagreements over various provisions.