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Clarity Act faces last-minute vote pressure before Senate recess

Lawmakers have two days to vote on the crypto market structure bill, and Republicans say wording disputes are delaying progress despite House passage last year.

Reported · Written up by our desk · Regulation

U.S. lawmakers are pressing to move the crypto market structure bill, the Crypto Clarity Act, before the Senate goes to recess in just days, with Republicans urging action despite ongoing disputes over the bill's language. Bitcoin Magazine reports that Republicans are criticizing Democrats for dragging their feet on the measure and are pushing for a vote despite a packed legislative calendar.

Senator Bill Hagerty told Fox News that the United States cannot afford to fall behind other countries on digital asset regulation, arguing that lawmakers will need to pass the Clarity Act. He said the U.S. needs to follow earlier steps that supported the digital dollar, and called for action covering the broader market.

Republican majority leader John Thune indicated the bill is likely to receive at least an initial vote this week, even as legislators are busy with other items. Bitcoin Magazine adds that the bill has a bipartisan draft circulating among lawmakers, but Republicans allege Democrats are being overly selective on wording.

The outlet notes that the Clarity Act has already passed the House of Representatives with strong bipartisan support, and that major financial institutions, lawmakers, and companies have backed the measure. Democrats have said in a statement that the text needs work, while Republicans counter that delays reflect midterm politics, including allegations from pro-crypto Senator Cynthia Lummis that Democrats are deliberately holding it back.

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