US House Financial Services Panel to Hold July 17 Hearing on Clarity Act
Summary
- The U.S. House Financial Services Committee will hold a hearing on the impact the Clarity Act could have on the financial industry.
- Industry participants view the period before Congress begins its recess next month as the deadline for passage of the Clarity Act.
- U.S. Democrats say the Clarity Act can pass only if it includes public-official ethics provisions.
Forecast Trend Report by Period
The U.S. House Financial Services Committee will hold a hearing on how the Clarity Act could affect the financial industry.
The panel will convene an in-person hearing at 11 p.m. Korea time on July 17 under the theme, “The Future of Finance and Innovation Under the Clarity Act,” according to industry officials on July 16. Witnesses will include representatives from Nova Labs, Bullish and WisdomTree.
The Clarity Act cleared the Senate Banking Committee in May but has yet to pass the full Senate. Industry participants view the period before Congress begins its recess next month as the deadline for the bill’s passage.
The White House plans to meet with U.S. senators later that day to work out a compromise on public-official ethics provisions, the bill’s biggest sticking point. White House Chief of Staff Susie Wiles is also expected to attend.
Democrats say the Clarity Act can pass only if it includes public-official ethics provisions.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul