The CLARITY Act, a bill designed to regulate the US cryptocurrency market, has been postponed to September due to an unfavorable Senate calendar. Democrats imposed an ethical clause aimed at keeping Donald Trump and his associates away from the crypto market, which has largely contributed to the legislative deadlock. Senate Majority Leader John Thune officially abandoned the effort last week before filing a cloture motion for a vote upon return from the summer recess. Adoption of the CLARITY Act requires 60 votes in the Senate, meaning all Republicans plus at least seven Democrats or independents. Zach Pandl, head of research at Grayscale, estimates that the chances of adopting the bill before year-end are now very slim, warning that the main risk lies in the potential relocation of investments and developer activity abroad.
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