Senator Tim Scott, chair of the US Senate Banking Committee, said the upper chamber would vote on the Digital Asset Market Clarity (CLARITY) Act before the August recess. Senate Majority Leader John Thune still has a few days to schedule a cloture vote on the crypto bill. The legislation will need support from 60 senators to pass. Outstanding concerns include Democratic objections regarding President Donald Trump’s crypto investments and banking industry calls for provisions addressing stablecoin licensing and restrictions.
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