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The U.S. Senate plans to push the full Senate to review the 《CLARITY Act》 on July 20.

WuSaidBlockchainW
According to The Hill, the U.S. crypto market structure bill, the “CLARITY Act,” is facing a critical window before the August congressional recess. U.S. Senate Majority Leader John Thune plans to push for a full Senate vote on the bill during the week of July 20, but at least seven Democratic senators are still needed. The report says the current disagreements center on ethical restrictions on government officials participating in the crypto industry, provisions on illegal finance, exemptions from liability for software developers, nominations of U.S. Securities and Exchange Commission (SEC) and U.S. Commodity Futures Trading Commission (CFTC) commissioners, and whether rewards for stablecoins could lead to bank deposit outflows. Trump’s recent financial disclosures show that he earned about $1.2 billion in crypto-related income last year, further intensifying Democrats’ concerns about conflicts of interest. Analysts believe that if the bill cannot make progress before the August recess, the timeframe to revive it again ahead of the midterm elections will be very limited.
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VineGeometry
· 12h ago
$1.2 billion in revenue is right there—of course the Democrats wouldn’t be able to resist bringing up conflicts of interest.
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RetroRadioSignal
· 12h ago
If this software developer liability exemption deal isn’t worked out, Builders will have to move overseas.
View OriginalReply0
SeaSaltMintCandy
· 12h ago
If there’s no progress before the August recess, it will have to be delayed until after the midterm elections, and the bill’s fate remains uncertain.
View OriginalReply0
Lightning-FastComposure
· 12h ago
The argument that stablecoin rewards lead to deposit outflows is a bit retro—once again, the bank lobbying group is pushing hard.
View OriginalReply0

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