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Multiple U.S. crypto industry associations urge advancing the “Clarity Act”; the bill still falls short of the procedural threshold of 60 votes

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PANews, July 24—According to Crypto in America, several U.S. crypto industry associations are urging the Senate to initiate a vote on the 《Clarity Act》 as soon as possible, even though the bill currently does not have enough support to clear the 60-vote procedural threshold. The latest 616-page version of the bill text has been endorsed by groups including the Digital Chamber, the Crypto Council for Innovation, and the Blockchain Association. They believe it strengthens the ability to combat illicit funds and, for the first time, establishes a federal consumer protection framework for the crypto market. However, multiple key Democratic senators—including Angela Alsobrooks and Mark Warner—said the bill is still “inadequate” in areas such as ethical standards and anti-money laundering, and are therefore not yet able to support it. Meanwhile, banking industry lobbying groups oppose stablecoin rewards that could disrupt deposits; disagreements between the federal government and state tax authorities, as well as disputes over compliance and DeFi regulation, are still being fought over. With only nine working days remaining before the August recess, the Senate has limited time to advance the vote.
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