U.S. Senate Delays CLARITY Act Vote Amid Legislative Congestion

The U.S. Senate has postponed the vote on the CLARITY Act, a key cryptocurrency market structure bill, due to internal disagreements within the Republican Party over the border security coordination bill. According to Odaily, the Senate was unable to advance the agenda before the Memorial Day recess, necessitating a rescheduling for early June when Congress reconvenes. The Senate's current schedule is already packed, with pressing issues such as the housing bill, the agriculture bill, and the June 12 deadline for the FISA bill. This congestion may push the consideration of the cryptocurrency market structure legislation to July, potentially affecting its chances of passing before the August recess. Meanwhile, staff from the Senate Agriculture Committee and the Banking Committee have begun coordinating and integrating the bill's text behind the scenes. Technical drafting work is expected to continue during the recess.