The CLARITY Act requires a Senate motion to proceed with a vote on Thursday.

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The CLARITY Act, a key U.S. crypto market regulation bill, requires a Senate motion to proceed with a procedural vote on Thursday. Senate Majority Leader John Thune must file the motion by Tuesday. The Senate may extend its sessions to address pending items, including CFT measures and legislation impacting risk-on assets. Republicans are uncertain whether they can secure the 60 votes needed to initiate debate and permit amendments.

ME News reports that on August 4 (UTC+8), the U.S. cryptocurrency market structure regulation bill, the CLARITY Act, reached a critical moment this week. Under Senate procedures, if senators wish to proceed with their planned August recess, Senate Majority Leader and Republican Senator John Thune must file a motion to proceed by Tuesday to schedule a procedural vote for Thursday. On Monday, John Thune indicated that the Senate may remain in session until it completes a series of pending items, including temporary government funding, Russian sanctions legislation, nominations, the college sports bill, and the procedural vote on the cryptocurrency market structure bill. Currently, Republicans are uncertain whether they can secure the 60 votes needed to initiate debate and allow discussion of amendments. (Source: ODAILY)

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