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Crypto bill faces Senate obstacles after earlier momentum

The bill’s May progress helped lift bitcoin, but its path in the full Senate is now uncertain.

Reported · Written up by our desk · Regulation

A key cryptocurrency legislative proposal is facing obstacles in the full Senate after earlier progress in May, according to MarketWatch.

The outlet said that the Clarity Act’s advancement in May helped support a rise in bitcoin prices, but momentum has since stalled as the bill encounters objections tied to banks and concerns connected to political figures’ crypto-related ventures.

MarketWatch reported that the measure’s prospects depend on whether it can overcome those hurdles as senators consider it in the full chamber.

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