The U.S. Senate puts the cryptocurrency market structure bill review on hold, industry opposition is mounting.

Source: HanKyungBlockchain Original Title: U.S. Senate Halts Review of Clarity Act… "Future Schedule Uncertain"

Original Link: https://www.hankyung.com/article/202601163870B

The U.S. Senate has paused the review of the Cryptocurrency Market Structure Act (Clarity Act).

According to U.S. political media reports, Senate Banking Committee Chairman Tim Scott has withdrawn his plan to vote on the Clarity Act. The Senate Banking Committee was scheduled to conduct a final review (markup) of the bill on that day, which is the last review stage before submitting the bill to the full Senate.

Chairman Scott's decision to delay the vote was made out of consideration for opposition from the cryptocurrency industry. A well-known CEO of a crypto exchange stated that after reviewing the Senate Banking Committee's draft of the Clarity Act for 48 hours, they concluded they did not support the bill in its current form and withdrew their support.

Media reports indicate that the review was interrupted due to unexpected opposition from major cryptocurrency companies and uncertainty in voting results. Some Republican lawmakers also expressed concerns about the Clarity Act, making bipartisan support difficult to achieve.

The subsequent review schedule remains unclear. It is also uncertain when Chairman Scott will reschedule the final review meeting.