US Senate Pauses the Clarity Bill, Vote Could Come as Early as Next Week

Odaily News: Senate Majority Leader John Thune has temporarily shelved the Clarity Bill, prioritizing the confirmation of government officials and the Russia sanctions bill. The Senate's schedule this week is also partially occupied by the funeral of the late Senator Lindsey Graham on Tuesday and Wednesday. Due to Senate procedural constraints, it cannot simultaneously handle a controversial piece of legislation, meaning the Clarity Bill may not come to a vote until next week, during the final days before the August 8th recess. Bipartisan negotiations are still ongoing over an ethics clause that would restrict federal officials, including President Trump, from participating in crypto projects. The White House announced last week that Trump had agreed to the clause, but Democrats believe it is insufficient, and both sides have agreed to continue negotiations. If the bill fails to pass this year, the industry will face regulatory uncertainty.