CLARITY Act Stalls in Senate One Year After House Passage; Lawmakers Hold Hearing on July 17

According to Odaily, the CLARITY Act remains pending in the U.S. Senate nearly one year after its passage in the House. On July 17, lawmakers held a hearing at Federal Hall National Memorial in New York to discuss how the bill would establish clearer rules for digital asset markets. House Majority Whip Tom Emmer stated that nearly 80 bipartisan lawmakers have supported the bill, but the Senate has yet to make measurable progress.

On July 14, Senator Cynthia Lummis announced that a Senate version of the CLARITY Act is ready, with the bill text to be released within days.