Lawmakers Ready 70-Page Crypto Bill Update as Clarity Act Still Lacks Ethics Deal
Updated
Updated · CoinDesk · Jul 13
Lawmakers Ready 70-Page Crypto Bill Update as Clarity Act Still Lacks Ethics Deal
3 articles · Updated · CoinDesk · Jul 13
Summary
A revised Clarity Act draft is expected this week, merging Senate Banking and Agriculture committee versions and adding about 70 pages, according to people familiar with the talks.
The new text still is not ready for a vote because it omits an ethics provision and leaves several disputed issues unresolved, a key obstacle to winning bipartisan support.
At least 60 Senate votes would be needed if Majority Leader John Thune brings the bill to the floor later in July, meaning at least seven Democrats likely must back it.
Trump's $1.4 billion in crypto-related earnings has sharpened Democratic ethics concerns, while sources said the White House has recently been less engaged in the negotiations.
A separate housing bill's four-year ban on a Federal Reserve CBDC, now effective if not vetoed, removes one issue that could have further complicated Clarity Act talks through 2030.
As the U.S. rushes to regulate crypto, will it secure financial leadership or push innovators to other nations?
Can new crypto laws truly police decentralized finance, or do they create loopholes for criminals to exploit?
The CLARITY Act’s 50/50 Gamble: Will Congress Deliver U.S. Crypto Regulation Before the August 7 Deadline?
Overview
The CLARITY Act is at a critical crossroads, with a rapidly closing legislative window before the August 7 recess. Proponents are urgently pushing for a Senate vote after Congress missed its initial July 4 deadline, warning that missing this opportunity could delay much-needed crypto reform. However, the Act faces tough political hurdles, including unresolved disputes over stablecoin yield payments and contentious ethics language linked to former President Trump. With analysts estimating only a 50/50 chance of passage this year, the outcome remains uncertain, but the stakes are high for the future of U.S. crypto regulation and innovation.