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Hopes for a Bull Market-Friendly Crypto Law, the Clarity Act, Are Fading: It's Not Even on the Agenda!

Uncertainty persists regarding the CLARITY Act, a major legislative proposal for regulating the US cryptocurrency sector. Hopes for its passage before the Senate's August recess are fading, as the bill was notably absent from the Senate's published schedule on August 3rd. This significantly reduces the chance it will be brought to a vote before the Senate's break begins on August 10th. The bill requires 60 votes to pass the Senate, meaning it needs the support of at least seven Democratic senators even with full Republican backing. Some Democrats argue the current draft lacks sufficient consumer protections and ethical safeguards, calling for further negotiations. Experts warn that if the bill is not approved in August, its passage could be delayed until September. However, with the November Congressional elections approaching, some analysts predict lawmakers may be too focused on campaigning to advance any major legislation, potentially postponing the CLARITY Act's adoption until 2027. While not formally off the agenda, the bill's fate hinges on last-minute procedural maneuvers and securing crucial Democratic support.

cryptonews.ruHace 13 hora(s)

Just One Step Away, What's Really Holding Up the Clarity Act?

The "Clarity Act," a major U.S. digital asset market structure bill, faces a critical hurdle with Congress's summer recess approaching on August 7. While the White House agreed to add an "ethics provision" targeting officials' crypto dealings—seen as a concession from Republicans—significant disagreements remain, causing analysts to lower its 2026 passage probability to 30%. The core dispute centers on the ethics clause's details. Democrats object to its enforcement being solely under the Department of Justice (DOJ), led by an ex-Trump lawyer, demanding independent oversight. They also oppose a sunset clause making the rules expire in 2029 (coinciding with a potential Trump term end) and argue restrictions on officials' family members are insufficient. Seven key Democratic senators negotiating the bill have called the current text inadequate. Republicans show little sign of further compromise, with a White House advisor stating the President has already made historic concessions. Time is running out. The Senate has postponed the bill to prioritize other matters, with only a few days left before recess. It must also compete for floor time with other contentious bills like Russia sanctions. The final push for the Clarity Act hinges on resolving these last-minute ethical and procedural disputes.

marsbit07/28 08:41

No Agreement Reached In White House Meeting Between Banks And The Crypto Industry

bitcoinist02/12 06:03

White House talks expose stablecoin rewards as fault line in U.S. crypto legislation

A White House meeting on February 2nd failed to break the stalemate in U.S. crypto market structure legislation, with stablecoin rewards identified as the core unresolved issue. Banking groups argue that yield-bearing stablecoins threaten traditional banks by drawing deposits away and undermining lending capabilities. Crypto firms counter that rewards are essential for customer acquisition and competitiveness, warning that a ban would favor incumbents and disadvantage digital-asset platforms. Major banking associations reaffirmed their stance post-meeting, emphasizing financial system safety and local lending support. The dispute reflects a deeper structural tension over dollar intermediation in the digital economy, with neither side willing to concede. Further discussions are expected, but Senate progress remains uncertain.

ambcrypto02/03 16:26