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Crypto Report: CLARITY Bill May Not Advance Before Congressional Recess if Senate Leader Thune Does Not File Cloture Motion Tonight

On August 7, crypto reporter Eleanor Terrett revealed that the CLARITY bill is currently in a state of waiting. It is awaiting a response from the White House regarding the bipartisan ethical issues proposal and/or counter-proposals; at the same time, it is also waiting to see if Senate Majority Leader Thune will file a cloture motion tonight to advance the CLARITY bill. As reported by Brendan Pedersen, both parties are concerned that if the cloture vote fails, it would render a year-long effort futile. However, there is also significant pressure within the crypto industry and the Republican Party to push this matter forward before Congress goes into recess. Additionally, the issue of yield is becoming an increasingly significant obstacle. As more lawmakers express a desire to amend the bill's text, a commentary in the Wall Street Journal has provided them with further justification for pushing for changes. Increasing signs indicate that if Thune does not file the cloture motion tonight, the CLARITY bill may not advance before Congress goes into recess.

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