The vote on the Clarity Act, a landmark cryptocurrency bill passed by the House of Representatives last year, has been delayed until September due to the August congressional recess. Senate Majority Leader John Thune said Democrats insisted on not holding the vote, which they dispute. Democrats wanted stronger ethics provisions in the bill to ban government officials from promoting or profiting from cryptocurrency. President Trump pointed out that Democrats also make money from stock trading and defended the bill’s importance for the US to lead China in crypto and AI. Major financial institutions including Goldman Sachs and Fidelity, as well as law enforcement groups, support the legislation.
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