US Senate Set to Vote on CLARITY Crypto Bill This Week

The US Senate is set to vote on the Digital Asset Market Clarity (CLARITY) Act, a crypto bill that aims to provide clarity in the digital asset market. Senator Tim Scott, who chairs the Senate Banking Committee, stated that the chamber would vote on the CLARITY Act before it breaks for an August recess.

Scott emphasized that the Senate 'should have the first vote' on the bill this week, giving lawmakers just a few days to take action. He added that Senate Majority Leader John Thune still has time to announce a cloture vote on the crypto bill in the next few days.

The South Carolina lawmaker's statement echoed comments from Senator Cynthia Lummis, who urged the Senate to take up a vote on CLARITY before the chamber's August recess. The bill would need support from 60 lawmakers to pass the Senate and advance in Congress.