Clarity Act Faces Tight U.S. Legislative Window Ahead of August Recess, Report Says

A proposed U.S. bill aimed at creating a regulatory framework for the digital asset industry, known as the Clarity Act, is entering a critical legislative window as bipartisan talks remain unresolved on key issues, The Hill reported. According to ChainCatcher, negotiators from both parties have not reached agreement on government officials’ ethics rules and illegal finance provisions. The report said that if the bill does not advance before the August recess, there would be little time to move it forward before the midterm elections, potentially forcing the legislative process to restart. Republican leadership is targeting the week of July 20 to push the bill toward consideration, but passage would require support from at least seven Democratic senators, the report added.