BlockBeats news, on June 22, according to Crypto in America, before the U.S. Congress enters a two-week recess this Thursday, the crypto industry is accelerating efforts to advance the Clarity Act. Senators and industry representatives will continue negotiations on the agriculture committee text, ethics provisions, and anti-money laundering issues, with the goal of moving the bill to a Senate vote after the recess.
Meanwhile, crypto political action committees continue to increase their support for pro-crypto candidates. Fairshake’s Protect Progress has contributed approximately $5.5 million to Adrian Boafo, a Democratic primary candidate in Maryland’s 5th district, and approximately $1.5 million to the re-election campaign of Representative Ritchie Torres in New York’s 15th district. The Blockchain Leadership Fund, backed by Anchorage Digital and Chainlink, has also supported Boafo.
Additionally, Fairshake spent approximately $12 million last week to help Republican Senate primary candidate Barry Moore win.
The industry group Digital Chamber will hold lobbying activities on Capitol Hill this week to advocate for the passage of the Clarity Act and cryptocurrency tax regulations. Sources indicate that some gambling industry groups seek to include provisions banning sports betting on prediction market platforms, but such provisions are expected to struggle to gain sufficient support.