Senate Democrats have coalesced to vote against cloture on the CLARITY Act unless Republicans make visible progress on ethics enforcement, illicit finance provisions, and stablecoin yield before the August recess begins on August 7. The 616-page merged bill does not currently have the required 60 votes to advance, with Republicans holding 53 seats and needing seven to nine Democratic crossover votes. The three disputes center on attorney-general enforcement powers over ethics rules, Bank Secrecy Act concerns around DeFi protocols, and language that could allow stablecoin issuers to circumvent yield prohibitions. Bernstein analysts warned that a Senate failure to act would likely produce a sharp selloff in Bitcoin and higher-risk altcoins, with year-end targets ranging from $100,000 to $150,000 but a potential floor test at $55,000-$60,000 if the regulatory stall persists.
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