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According to The Hill, U.S. Senate Majority Leader John Thune plans to launch the CLARITY Act Senate floor consideration process during the week of July 20. Major County Sheriffs of America will shift its position on a developer exemption clause to neutral, while the White House, the Treasury Department, and Senator Catherine Cortez Masto are jointly drafting a revised proposal. The bill negotiations face disagreements over provisions related to ethical standards, Democratic seats on the SEC and CFTC, and regulatory loopholes for stablecoin yield. Financial disclosures last year showing former President Trump’s roughly $1.2 billion in crypto-related income intensified negotiations over the ethics clause. Analysts warn that before the August recess, it is the final window for this Congress to pass the bill.
Jin10 Data, July 12 — In the early hours of July 12, the naval forces of Iran’s Islamic Revolutionary Guards announced that the Strait of Hormuz will be closed effective immediately, and that no vessels may pass. The statement said that Iran had previously announced that any foreign interference in the affairs of the Strait of Hormuz and any acts of illegally designating shipping routes would be met with Iran’s “firm and resolute response.” Given that foreign forces’ illegal interference has created an unsafe situation, the Strait of Hormuz will be closed starting immediately until further notice and until the United States stops interfering in the region. The statement said that a few hours earlier, several vessels attempted to sail along routes not approved by Iran and ignored Iran’s prompts and warnings to adjust course. One vessel had its automatic identification system shut off, was hit by Iran’s warning shots, and stopped sailing. The statement also warned that if the U.S. launches new attacks on Iran using this incident as a pretext, Iran will respond forcefully and strike more U.S. bases in the Middle East. (Xinhua News Agency)