The US Senate will have only 36 days in session after the August recess to pass the CLARITY Act, with a cloture vote expected in September. The bill, which passed the House of Representatives last year, still faces concerns over Trump’s ties to digital assets and restrictions on stablecoin rewards. The November midterm elections, where 33 Senate seats and all 435 House seats will be contested, could further complicate discussions. Should Congress fail, the chairs of both the SEC and CFTC have stated their agencies are ready to establish their own rules to regulate the crypto market.
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