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CLARITY Act faces a 36-day Senate window after August recess
Lawmakers return Sept. 14, with 14 days scheduled before a pre election recess, leaving just 36 days in session total to advance the bill.
After an August recess delayed progress on US crypto legislation, the Digital Asset Market Clarity, or CLARITY Act, now has a narrow 36-day window for Senate action before the end of the year, according to Cointelegraph.
Cointelegraph reports that Majority Leader John Thune filed for cloture so the bill can move to the Senate floor when lawmakers return. Lawmakers are set to come back on Sept. 14, but they have only 14 days scheduled before breaking for a recess ahead of the November election, and then another 22 days before year end.
Despite an expectation that the Senate could hold a cloture vote in September, the bill still faces major hurdles, with unresolved provisions including ethics language tied to US President Donald Trump’s connections to digital assets and additional restrictions aimed at crypto companies that offer stablecoin rewards, Cointelegraph said.
The outlet also notes that the Senate had 13 months to consider the CLARITY Act after it passed the House last year, a period that included government shutdowns and opposition from Democrats who criticized earlier versions of the bill. Cointelegraph adds that, if the Senate proceeds into a pre election period, the timing could further complicate negotiations as election results could affect lawmakers’ availability.