Republican Senators Say Senate CLARITY Act May Fail in Vote Next Week
Summary
- The US Senate’s crypto-asset regulation bill, the CLARITY Act, could fail in a vote next week.
- Republican senators said the bill’s outlook “doesn’t look good” because of differences between the White House and Congress over an ethics provision.
- If the bill is rejected, the crypto industry could back supportive candidates in future Senate and House elections.
Forecast Trend Report by Period
A bipartisan US Senate bill to regulate crypto assets, the CLARITY Act, may fail when Congress returns next week, according to Republican senators.
Semafor reported on September 8 that talks between Republicans and Democrats have made little progress on an ethics provision sought by Democrats that would limit crypto-related conflicts of interest involving the president and the president’s family. The CLARITY Act faces a Senate procedural vote on September 15.
Republican Senator Mike Rounds said the bill’s outlook “doesn’t look good right now.”
Thom Tillis, also a Republican senator, said the bill would fail if the White House is unwilling to narrow differences over the ethics provision.
There is also speculation that, if the bill fails, the crypto industry could back supportive candidates in future Senate and House elections. Roger Marshall, a Republican senator, said the measure is not a top issue for voters in his state.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.