Senate Faces Critical Deadline as Crypto Bill Stalls

The US crypto market structure legislation is facing significant hurdles in the Senate despite growing momentum in Congress.

TD Cowen expects the Senate to begin formal consideration of the Clarity Act in July, but approval remains 'far from assured', according to managing director Jaret Seiberg.

The key deadline for lawmakers is July 24, before the House begins its August recess. If they fail to advance the legislation by then, it's unclear whether Congress will have enough time and political appetite to revisit the measure before campaigning intensifies ahead of the midterm election.