Despite a narrow voting window before lawmakers take an August recess, Majority Leader John Thune still has time to schedule a cloture vote on the Digital Asset Market Clarity (CLARITY) Act, stated South Carolina Senator Tim Scott. As chair of the Senate Banking Committee, Scott echoed calls from other Democrats and industry leaders for quicker action on the crypto bill.
Senator Cynthia Lummis urged the Senate to take up a vote on CLARITY before the chamber’s August recess. The voting window gives just a few days for lawmakers to act on the legislation aimed at clarifying regulations for digital asset markets.
Senate Majority Leader John Thune has authority to set the agenda and schedule floor votes, giving some hope that he might allocate time for the necessary vote soon. However, uncertainties remain regarding whether Thune will schedule a cloture vote in the next few days or if further changes may be required to address concerns from Democrats and industry leaders on stablecoin companies’ licensing and restrictions.
Written by Jessica Primrose
Stablecoins Desk
