New Developments from Insiders Regarding the Clarity Act, the Cryptocurrency Bill in Favor of Bulls

Crypto journalist Eleanor Terrett reported that US Senate Majority Leader John Thune is preparing to take a new step forward in advancing the Clarity Act.

According to Terrett, citing multiple sources, Thune’s office is communicating to crypto industry representatives that the Majority Leader plans to file a cloture request for a motion to move the Clarity Act to a debate before Congress members go on recess in August.

This move could pave the way for a vote on the bill in September. Within the crypto sector, this development is seen as a positive signal that the Republican Senate leadership aims to make the Clarity Act a top priority after the recess.

However, it is stated that the necessary votes for the bill to pass have not yet been secured. Negotiators will need to resolve the disagreement, particularly regarding yields, in the coming weeks.

According to Terrett, the yield issue has once again become central to negotiations following opinion pieces published in the Wall Street Journal. It is also reported that banks have made significant progress in convincing some Republican senators that the current regulatory language needs to be changed.

Another important issue facing the bill is the creation of an ethics agreement acceptable to both parties. While there has been no new response from the White House on this matter yet, sources indicate that the pressure on the administration to provide an urgent response has decreased compared to the beginning of the week.

*This is not investment advice.