U.S. Senate temporarily shelves Clarity Act, earliest vote possible next week

Odaily News Senate Majority Leader John Thune has temporarily set aside the Clarity Act, prioritizing the confirmation of government official nominations and the Russia sanctions bill. The Senate will also be occupied on Tuesday and Wednesday this week due to the funeral of deceased Senator Lindsey Graham. Due to Senate procedural constraints, it cannot simultaneously handle a controversial bill; the Clarity Act may not proceed to a vote until as early as next week, the final days before the August 8 recess. Both parties are still seeking a compromise on the ethics clause, which restricts federal officials, including President Trump, from participating in crypto projects. The White House announced last week that Trump agreed to accept the clause, but Democrats consider it insufficient, and both sides have agreed to continue negotiations. If the bill fails to pass this year, the industry will face regulatory uncertainty.