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Crypto
U.S. CLARITY bill faces last-minute tug of war ahead of July 4 recess over three key hurdles
A U.S. Senate crypto market structure bill known as the CLARITY Act is running into three hurdles before a possible floor vote ahead of the July 4 congressional recess. The Senate has yet to set a voting schedule and needs at least 60 votes to advance. Committees are also working to reconcile competing bill texts, including how to divide oversight between the SEC and CFTC. Ethics provisions, along with calls to curb prediction markets, add to the uncertainty.
Crypto
Pressure builds for Clarity Act Senate vote, but prediction markets see August deadline unlikely
The cryptocurrency industry has stepped up public pressure on the U.S. Senate to move the Clarity Act to a floor vote. More than 200 companies and groups urged Senate leaders to act without delay, arguing that a lack of federal rules pushes activity overseas. Opponents have also mobilised, citing weaknesses in anti-money laundering provisions, ethics rules and stablecoin-related gaps. Prediction markets and some institutional forecasts have lowered estimates for passage before August.
Crypto
Crypto industry urges U.S. Senate to vote on CLARITY Act as Coinbase, Ripple join
More than 200 cryptocurrency companies and industry groups, including Coinbase, Ripple, Kraken, Andreessen Horowitz, Circle and Binance.US, urged U.S. Senate leaders to hold a floor vote on the CLARITY Act. The bill passed the Senate Banking Committee on May 14, 15-9, but still needs 60 votes on the Senate floor and further steps. Analysts are divided on passage this year, with debate including stablecoin interest-like rewards.
