The U.S. Senate is facing a deadlock over the crypto market structure bill, known as the "Clarity Act," with no confirmed voting date and unresolved negotiations on key disputes. With only 14 working days left before the August recess, the bill's progress is stalled, particularly over ethics provisions aimed at preventing government officials from profiting from digital assets, which have yet to receive White House support.
A recent closed-door meeting in the Oval Office, involving Trump, Senators Cynthia Lummis and Bernie Moreno, and the White House Chief of Staff, failed to yield a clear stance from the White House on ethical parameters. Other contentious issues include the retention of the Blockchain Regulatory Certainty Act, opposed by the National Sheriffs' Association, and provisions related to crypto exchange vertical integration and state law preemption. The bill's passage also hinges on securing support from Democratic Senators Warner and Cortez Masto, contingent on addressing law enforcement concerns about illicit finance. Capitol Hill observers warn that procedural groundwork must be completed by this weekend to avoid missing the legislative window before the recess.
U.S. Senate Faces Deadlock on Crypto 'Clarity Act' as Recess Looms
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