Senate leaves town without voting on crypto bill, dimming its chances of passing
Summary
The U.S. Senate took a break for the August recess without voting on a bill to regulate cryptocurrency. This delay reduces the chance that the bill, called the Clarity Act, will become law before the midterm elections.Key Facts
- The Senate did not vote on the cryptocurrency regulation bill before leaving for recess.
- The recess started over the past weekend in August.
- The bill in question is named the Clarity Act.
- The Clarity Act aims to create clear rules for the cryptocurrency industry.
- Lawmakers will return for a short three-week session after the recess.
- The delay makes it less likely the bill will pass before the midterm elections.
- The crypto industry still hopes the bill will pass when the Senate returns.
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