The CLARITY Act's chances of passing in the Senate are facing significant challenges due to an ongoing ethics controversy.
Democrats have been pushing for an ethics provision that would bar government officials from engaging in cryptocurrency dealings, citing concerns over potential conflicts of interest. However, the White House has rejected any language that singles out a specific officeholder, leaving the two sides at an impasse.
The bill requires at least seven Democrats to vote yes to overcome a filibuster, and analysts believe that a deal will be necessary before it reaches the floor.