#TheClarityActisBadNews.
Bad news for the Clarity crypto bill: No progress is being made.
The voting process for the Clarity Act—eagerly awaited by both the crypto and financial worlds—is not proceeding as hoped. It has been reported that no progress was made in the latest discussions regarding the bill, which has been repeatedly delayed due to the Democrats' firm stance and has failed to reach the general voting stage.
Two Democratic officials speaking to the US media stated that no agreement could be reached on the ethics provisions they want added to the bill—specifically those covering Trump and his family. As is known, the Democratic faction is deeply uncomfortable with the crypto activities and business dealings of Trump and his family, a concern they have openly voiced for nearly a year. Democrats want to add crypto-related ethics clauses to the Clarity Act that would apply to the president and his family.
However, according to two Democratic aides, very little progress has been made between the parties regarding this Democratic demand.
The first step for the Clarity Act will be a procedural vote. However, passing this initial stage requires a minimum of 60 votes in total. Republicans currently hold 51 seats in the Senate (down from 53). This means that even if every single Republican voted in favor without a single defection, they would still need an additional 9 votes.
Given the division and tension in the US, it remains a matter of debate whether a sufficient number of Democrats would vote in favor of the bill...
Bad news for the Clarity crypto bill: No progress is being made.
The voting process for the Clarity Act—eagerly awaited by both the crypto and financial worlds—is not proceeding as hoped. It has been reported that no progress was made in the latest discussions regarding the bill, which has been repeatedly delayed due to the Democrats' firm stance and has failed to reach the general voting stage.
Two Democratic officials speaking to the US media stated that no agreement could be reached on the ethics provisions they want added to the bill—specifically those covering Trump and his family. As is known, the Democratic faction is deeply uncomfortable with the crypto activities and business dealings of Trump and his family, a concern they have openly voiced for nearly a year. Democrats want to add crypto-related ethics clauses to the Clarity Act that would apply to the president and his family.
However, according to two Democratic aides, very little progress has been made between the parties regarding this Democratic demand.
The first step for the Clarity Act will be a procedural vote. However, passing this initial stage requires a minimum of 60 votes in total. Republicans currently hold 51 seats in the Senate (down from 53). This means that even if every single Republican voted in favor without a single defection, they would still need an additional 9 votes.
Given the division and tension in the US, it remains a matter of debate whether a sufficient number of Democrats would vote in favor of the bill...
