The Clarity Act received an update.
Republican Senator Cynthia Lummis has revealed that around 100+ amendments have been requested by the Democratic Senators to be added to the Clarity Act draft.
This targeted more provisions for important themes across digital asset and DeFi regulation.
Will There Be 60 Votes?
Importantly, the Clarity Act vote got delayed to September.
This happened in the lead up to the 7-10th August break where Senators took time away from their duties – including working on the latest crypto legislation – and momentum fell.
However, now that 15th September is right around the corner, there is still an important question to be answered: does the bill have enough votes to get it across the finish line?
Seemingly, with this renewed effort of bipartisan negotiations, there may be a chance for the Clarity Act to get its necessary 60 votes in the Senate to be approved and sent over to the House for reconciliation.
The House passed their own version of the bill last summer right after the Genius Act was signed into law.
Yet, it was recently revealed by Bloomberg that there will not be much time in September for the House to meet.
This makes things a little bit harder as more deadlines loom over the head of the crypto legislation.
Additionally, State Banking Associations sent another letter regarding stablecoin yield prohibitions.
The initial compromise was already agreed upon in May as the focus moved to other topics like ethics.
Recently, around 39 of these unveiled their own stablecoin and tokenized deposit initiative.
