Senate Votes on Clarity Act Market Structure Bill Set for August 6

The US Senate must begin procedural steps on August 4 to hold an August 6 vote on whether to open debate on the Clarity Act, a bill aimed at improving market structure in the crypto industry.

The Clarity Act has been a point of contention for lawmakers, with some seeking to strengthen ethics rules related to digital assets and others objecting to provisions regarding stablecoin rewards.

Majority Leader John Thune believes the Senate will be able to vote on the bill, but whether it can formally take up the legislation remains uncertain. At least 60 of the 100 senators must vote in favor for full debate to begin.