Summary
- US cryptocurrency industry groups are urging Senate leaders to hold a floor vote on the CLARITY Act.
- The bill has yet to secure the 60 votes needed to clear procedural hurdles in the Senate and does not currently have enough support to advance.
- The CLARITY Act would address the distinction between securities and commodities in the digital-asset market, the allocation of oversight authority, and the regulatory framework for exchanges and brokerages. Delays in passage could prolong regulatory uncertainty for crypto businesses in the US.
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US cryptocurrency industry groups are urging Senate leaders to bring the CLARITY Act, a market-structure bill, to the floor for a vote.
Fox Business reporter Eleanor Terrett wrote on X on July 24 that the Digital Chamber, the Crypto Council and the Blockchain Association are pressing Senate leadership to advance the CLARITY Act to a full Senate vote.
The bill has not yet secured the 60 votes needed to clear procedural hurdles in the Senate, Terrett added. It currently lacks enough support to move forward.
The CLARITY Act is a market-structure bill that addresses the distinction between securities and commodities in the digital-asset market, the allocation of oversight authority, and the regulatory framework for exchanges and brokerages. Industry groups say delays in passing the bill could prolong regulatory uncertainty for crypto businesses in the US.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.