Delay in American Cryptocurrency Bill CLARITY Act Due to Cancellation of Work Weeks

The House of Representatives has canceled the last two scheduled work weeks of September, jeopardizing the consideration of the CLARITY Act. Politicians will not return until after the midterm elections on November 3, following their break on September 14. This is problematic as the Senate is set to hold a crucial procedural vote on the bill on September 15. The Senate is considering a revised version of the bill presented by Senator Cynthia Lummis, which requires approval from the House before it can go to President Trump. With the House's early absence, there is little time to reach an agreement. Although the vote on September 15 is still scheduled, the new agenda reduces the likelihood that the bill will be approved before the elections. If the consideration does not take place before the elections, it may be postponed until after November 3. The CLARITY Act aims to establish clearer rules for the American cryptocurrency market and clarify oversight between the SEC and CFTC.

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