Crypto journalist Eleanor Terrett reported that U.S. Senate Majority Leader John Thune is preparing to take a new step forward in advancing the Clarity Act.
According to Terrett, citing multiple sources, Thune's office is informing crypto industry representatives that the majority leader plans to file a cloture petition to move the debate on the Clarity Act forward before Congress leaves for recess in August.
This move could pave the way for a vote on the bill in September. The crypto sector views this development as a positive signal that Republican leadership in the Senate intends to make the Clarity Act a priority after Congress reconvenes.
However, it's reported that the necessary votes to pass the bill have not yet been secured. Negotiators need to settle differences, particularly regarding revenue, in the coming weeks.
Terrett stated that the revenue issue has once again become central to the negotiations following articles published in the Wall Street Journal. It's also reported that banks have made significant progress in convincing some Republican senators of the need to amend the current regulatory framework.
Another major issue facing the bill's authors is establishing an ethical agreement acceptable to both sides. While the White House has not yet issued new comments on the matter, sources indicate that pressure on the administration for an urgent response has eased compared to earlier in the week.
*This is not investment advice.
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