U.S. Senate to Consider CLARITY Act During the Week of July 20, Requires Support from at Least 7 Democratic Senators

Odaily reports that the CLARITY Act, which provides a regulatory framework for the digital asset industry, is facing a critical legislative window. Bipartisan negotiations in the U.S. have yet to reach an agreement on key issues such as government ethics rules and illegal finance. If the bill fails to advance before the August recess, there will be almost no time window before the midterm elections, potentially causing the legislative process to return to square one. Currently, the Republican leadership aims to push for a full Senate review during the week of July 20, but it will require support from at least 7 Democratic senators to pass.