Clarity Act faces pressure to pass before July 4, US Senate's congested schedule may delay bill progress

Odaily Planet Daily News The US Senate has reconvened after the Memorial Day recess, but with only about a four-week legislative window remaining before entering a two-week recess related to Independence Day on July 4, the crypto market structure bill, the Clarity Act, faces time pressure in its advancement.

Reports indicate that during this period, the Senate must prioritize several agenda items, including the Department of Homeland Security funding, Pentagon budget supplements, and the extension of FISA Section 702 authorization, making the legislative schedule highly congested. Even if the bill enters the deliberation phase, the related voting process could take one to two weeks.

Meanwhile, the bill itself is still in the coordination phase between the versions from the Senate Banking Committee and the Agriculture Committee, with disagreements remaining on several key provisions, making the negotiations complex. The long-standing debate over issues such as stablecoin yields has already consumed significant political capital, while current attention is shifting to unresolved differences in the Agriculture Committee's version.

Since the bill needs 60 votes in the Senate to overcome a filibuster, bipartisan consensus is crucial. Several Democratic senators have stated that ethical constraints on government officials' crypto asset holdings and the regulatory authority of law enforcement agencies in the DeFi sector will be important prerequisites for supporting the bill.

Analysts point out that even if it fails to pass before July 4, the bill could still advance before the August recess. However, if delayed into the deepening phase of the election cycle, its political momentum may face uncertainty. (Crypto In America)