The Clarity Act is down to its final stretch in the US Senate — and 4 major issues remain unresolved before a floor vote can happen.
The crypto market structure bill has roughly 5 weeks before Congress breaks for summer, which kicks off midterm election season. The goal is a Senate floor vote the week of July 13, leaving about 13 working days to wrap negotiations.
Here's what's still on the table:
1️⃣ Ethics provision: The toughest fight. Senate Democrats are negotiating limits on senior government officials maintaining crypto business ties — directly targeting President Trump's involvement with World Liberty Financial, Truth Social, and his memecoin. The White House says restrictions should apply broadly, not just to Trump.
2️⃣ Agriculture Committee concerns: Democrats overseeing commodities want the CFTC fully staffed with both vacant Democratic seats filled before they'll sign off.
3️⃣ DeFi developer protections: The BRCA section is under heavy scrutiny. Law enforcement groups worry it shields DeFi developers too much. Senator Cortez Masto keeps pushing back on liability protections, while Senator Lummis urges colleagues to hurry: "Software developers should not need an army of lawyers to know if their code is legal."
4️⃣ Stablecoin yield: Bankers argue stablecoin rewards programs threaten deposit-taking business. JPMorgan CEO Dimon is pledging to fight it to the wire.
The Digital Chamber is hosting a fly-in this week with 50 crypto executives visiting 30+ Senate offices to push for progress. CEO Cody Carbone says everyone remains committed.
This is the crypto industry's most important policy effort right now. A Senate vote before summer could set the stage for US digital asset regulation for years to come.
Will the Senate get it done before the summer break? #Bitcoin #Crypto #DeFi #Blockchain #BitcoinNews
The crypto market structure bill has roughly 5 weeks before Congress breaks for summer, which kicks off midterm election season. The goal is a Senate floor vote the week of July 13, leaving about 13 working days to wrap negotiations.
Here's what's still on the table:
1️⃣ Ethics provision: The toughest fight. Senate Democrats are negotiating limits on senior government officials maintaining crypto business ties — directly targeting President Trump's involvement with World Liberty Financial, Truth Social, and his memecoin. The White House says restrictions should apply broadly, not just to Trump.
2️⃣ Agriculture Committee concerns: Democrats overseeing commodities want the CFTC fully staffed with both vacant Democratic seats filled before they'll sign off.
3️⃣ DeFi developer protections: The BRCA section is under heavy scrutiny. Law enforcement groups worry it shields DeFi developers too much. Senator Cortez Masto keeps pushing back on liability protections, while Senator Lummis urges colleagues to hurry: "Software developers should not need an army of lawyers to know if their code is legal."
4️⃣ Stablecoin yield: Bankers argue stablecoin rewards programs threaten deposit-taking business. JPMorgan CEO Dimon is pledging to fight it to the wire.
The Digital Chamber is hosting a fly-in this week with 50 crypto executives visiting 30+ Senate offices to push for progress. CEO Cody Carbone says everyone remains committed.
This is the crypto industry's most important policy effort right now. A Senate vote before summer could set the stage for US digital asset regulation for years to come.
Will the Senate get it done before the summer break? #Bitcoin #Crypto #DeFi #Blockchain #BitcoinNews