Senate Sets Deadline for CLARITY Act as Crypto Industry Awaits
The fate of the CLARITY Act, which aims to provide the crypto industry with its first comprehensive rulebook, remains uncertain as the Senate heads into a five-week recess.
Senate Majority Leader John Thune pushed for a procedural vote on August 8, which will be held on September 15. This cloture vote will determine whether the bill has a future in the Senate.
Analysts and lobbyists are skeptical about the CLARITY Act's prospects due to opposition from key Democrats and the Senate's crowded agenda, including November elections.
Crypto industry supporters, however, remain optimistic. Sen. Cynthia Lummis said on social media that 'Death by 1,000 cuts is just as fatal as a bullet.' Cody Carbone, CEO of The Digital Chamber, stated that 'The fight is far from over.'