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- Clarity Act delayed 🏛️
Clarity Act delayed 🏛️
The U.S. Senate will not vote on the Clarity Act before its August recess, pushing the crypto market structure bill to September.
📝 What you need to know
The U.S. Senate has pushed back the Clarity Act vote to after the August recess, according to Senate Majority Leader John Thune (R-SD), who noted that the Democrats were “insistent” on the issue.
Opposition continues to focus on the same sticking points of stablecoin rewards, empowering law enforcement, and—the main issue—ethics provisions that impact on President Trump’s crypto investments.
The delay is not, ultimately, a surprise, with Thune having signalled weeks ago that it wouldn’t clear the chamber ahead of the break. Should the Clarity Act ultimately falter, the SEC stands ready to write crypto rules itself, according to the regulator’s Chair Paul Atkins—but they could be undone by a future administration.
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