Coinbase CEO Brian Armstrong is urging the U.S. Senate to pass the CLARITY Act before the summer recess, leaving just seven days. The bill cleared the Senate Banking Committee 15-9 on May 14 but still needs 60 votes to overcome a filibuster. Senators Tillis and Gallego have reached a compromise on ethics provisions, though the measure still requires White House approval. If the bill fails, SEC Chair Paul Atkins has stated his agency will introduce its own crypto market rules using existing authority.
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