US Senate Fights to Pass Crypto Bill Amid Deadline Concerns
US Senate Fears Missing August Deadline for Crypto Bill
The US Senate is facing difficulties in voting on crypto market structure legislation, known as the CLARITY Act, before its August deadline. The bill aims to regulate digital assets and has been a contentious issue among lawmakers.
Senate Majority Leader John Thune (R-SD) expressed concerns that the bill may not meet the August deadline, stating that the Senate might start procedural voting to make a final push when it reconvenes on September 14. However, Sen. John Kennedy (R-LA) warned that if there's no vote by August, 'I think the odds shift against us.'
The Republican-authored changes to the bill have failed to convince skeptical senators, particularly Democrats, who are still sour over the weak 'ethics' language that would do little to rein in President Trump's crypto profiteering.