The U.S. Senate Delays Vote on the <i>CLARITY Act</i> Until September

BlockBeats News, August 7th, according to Politico, the U.S. Senate has decided to postpone the vote on the Cryptocurrency Market Structure Act (known as the CLARITY Act) until September.

Prior to this, according to crypto journalist Eleanor Terrett, all parties involved in the CLARITY Act were awaiting a response from the White House on the bipartisan ethics amendment or a counterproposal. Both parties are concerned that if the cloture vote fails, it could derail this year-long legislative effort. However, there is also industry pressure and pressure from within the Republican Party to continue the process before the recess. In addition, the "yield" related provisions are becoming a more prominent point of contention, with an increasing number of legislators calling for changes to the bill's text.