Crypto
US Senate Advances Crypto Clarity Act Amid Industry Lobbying
The US Senate is moving to advance the Clarity Act, a bill that aims to establish a comprehensive regulatory framework for cryptocurrencies.
Senate Majority Leader John Thune filed early Saturday to set up a key procedural vote on the Clarity Act when the Senate returns from its August recess in mid-September.
The legislation currently needs the support of at least eight Democrats in addition to all voting Republicans in the Senate, and it faces a 60-vote hurdle.
Crypto companies have pushed for the legislation, arguing that clearer rules would reduce regulatory uncertainty and encourage wider adoption of digital assets.