Summary
- The U.S. House is set to shorten its September session, raising the possibility that final action on the CLARITY Act could be delayed.
- The Senate will return on September 14 and hold its first vote on the CLARITY Act on September 15.
- A shorter House schedule in September could leave little time to complete the related legislative process before the midterm elections.
Forecast Trend Report by Period
A sharply shorter September schedule in the U.S. House ahead of the midterm elections may disrupt final action on the CLARITY Act, a market-structure bill for digital assets.
Crypto news outlet U.Today reported on September 3 that the House is set to return on September 14, meet for about four days, and then effectively go into recess until the midterm elections.
The Senate will also resume its formal session on September 14. A procedural vote to begin full consideration of the CLARITY Act is scheduled for September 15.
The complication would come if the Senate passes an amended version of the bill. For the measure to become law, the House would have to approve the Senate's changes again, or the two chambers would need to negotiate and adopt an identical final version.
If the House sharply cuts its September calendar, time to complete the remaining legislative steps before the midterm elections could be tight. That raises the possibility that final passage of the CLARITY Act could slip until after the elections, depending on the pace of Senate action and the House's schedule.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.