Senate's Four-Day Deadline for CLARITY Act Sparks Urgency in Digital Asset Regulation
The US Senate has only four days to advance the CLARITY Act before its August recess, which begins on August 10. The bill aims to regulate digital assets and establish clear rules for cryptocurrency exchanges, brokers, dealers, and qualified custodians.
Industry advocates, including Stand With Crypto, are urging senators to approve the legislation, citing support from Wall Street, the cryptocurrency industry, and other organizations. The group plans to score every senator's vote on the CLARITY Act, adding pressure as lawmakers work through their final legislative days before recess.
The White House is reviewing an ethics counterproposal submitted by US Senators Thom Tillis (R-NC) and Ruben Gallego (D-AZ), which could determine whether negotiators revise provisions in the remaining four-day window or continue discussions after the Senate returns in September.