Senate Puts Crypto Regulation Bill on Hold Until September

Senate Delays Action on Crypto Regulation Bill, Leaving Key Issues Unresolved

The US Senate has put off taking action on a landmark bill to regulate cryptocurrency until September. Senate Majority Leader John Thune confirmed that the chamber won't hold an initial procedural vote on the Clarity Act (H.R. 3633) due to opposition from Democrats. This development significantly reduces the odds of passage for the bill, according to one key negotiator.

The decision to delay action was made late Thursday, with Thune stating that the Senate will plan to take up the issue first thing when they reconvene in September. He had initially planned to hold an initial procedural vote on the Clarity Act but faced opposition from Democrats.