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US Senate delays CLARITY Act vote as crypto market structure bill slips

The postponement to September comes amid calls in the UK for an investigation into alleged crypto-linked political donations tied to former FTX CEO Sam Bankman-Fried.

Reported · Written up by our desk · Market Structure

Crypto prices showed mixed moves on Aug. 7, with Ether up 0.6% to $1,912.91 and Bitcoin rising 0.86% to $64,896.96, while TRX, LINK, ZEC, ADA, XRP and others traded in both directions.

In the US, attention is on the Senate’s delay of a vote on the CLARITY Act, with the schedule pushed to September. According to First Digital CEO Vincent Chok, the added time could help Hong Kong and Singapore strengthen their positions as digital asset hubs, particularly where regulatory frameworks are clearer.

The story also highlights renewed scrutiny of crypto-linked political finance in the UK. Cointelegraph reports Reform UK chair Lee Anderson called for a parliamentary investigation into a reported $50,000 political donation linked to former FTX CEO Sam Bankman-Fried, involving payments to UK Defense Secretary Wes Streeting via a think tank.

Cointelegraph adds that the US appeals court this week formally upheld Bankman-Fried’s fraud conviction and 25-year prison sentence, narrowing his remaining options for challenging the case.

Latest closeBitcoin $64,870.46 ▲0.9%|XRP $1.030 ▼0.4%

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