The U.S. Senate has delayed a vote on the Clarity Act, a cryptocurrency market structure bill, until September after failing to reach a deal with Democrats before the August recess. Republicans need roughly six Democratic crossovers to reach the 60-vote threshold required for passage, after the bill cleared the Senate Banking Committee 15-9 in May. Key sticking points remain stablecoin rewards, law enforcement provisions against illicit finance, and ethics rules covering Trump’s crypto holdings, with Trump reporting $1.4 billion in crypto and meme coin earnings for 2025. If the bill passes the Senate, it would return to the House before reaching President Trump, with the SEC preparing to write its own crypto rules should the legislation stall.
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