CLARITY Act Stalls Amid Ethics Provisions and Deadline Pressure

The U.S. Senate has entered its final phase in passing the CLARITY Act, a comprehensive regulatory framework for cryptocurrency assets.

With only four weeks remaining before the August 7 summer recess, securing the required 60 votes for passage is more challenging than ever, thanks to Senator Lindsey Graham's recent death, which leaves Republicans unable to afford a single defection and makes winning Democratic votes essential.

President Trump has urged swift passage of the bill, framing it as Senator Graham's policy legacy and emphasizing the need for America to maintain its competitive edge in emerging technologies like cryptocurrency and artificial intelligence.

Negotiations over ethics provisions have stalled due to conflicts of interest related to President Trump's own cryptocurrency ventures, which generated over $1 billion in revenue last year, according to his financial disclosures.