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Crypto

U.S. Senate crypto CLARITY bill wobbles; odds of passage this year fall to 16 percent

Expectations that the U.S. CLARITY bill setting a crypto market oversight framework will pass this year have faded again. Cointelegraph reported that Polymarket put the chances of enactment this year at 16 percent. Optimism briefly rose after Republicans proposed amendments strengthening ethics provisions, but retreated as Democratic opposition grew. Democrats are pressing for tougher, effective ethics rules, while Republicans need 60 Senate votes to advance the bill.

Crypto

U.S. crypto industry goes to court to block Illinois 0.2 percent tax on coin trades

U.S. cryptocurrency industry groups have asked a court to urgently halt Illinois\' planned 0.2 percent digital asset tax, due to take effect next year. The Crypto Council for Innovation and the Blockchain Association filed for a preliminary injunction in Sangamon County and have already sued, arguing the law is unconstitutional. Illinois expects about $60 million a year in revenue. The industry says unclear scope would force costly systems and could drive businesses and users elsewhere.

Crypto

U.S. Clarity Act vote nears as crypto industry and banks clash in last-minute lobbying

With the U.S. Senate set to hold a procedural vote on the Clarity Act on Sept. 15, lobbying by the cryptocurrency industry and regional banks is spreading to senators’ home states. Both sides used the August recess to press their case through local events, meetings, op-eds, calls, emails and advertising. The bill would set federal rules for digital assets and split oversight between the SEC and CFTC, with stablecoin reward provisions a key flashpoint.