Is Clarity's delay a blessing in disguise?: State of Crypto

Senate Majority Leader John announced late last Thursday that the Senate would not hold even a procedural vote on the Digital Asset Market Clarity Act before the August recess, dimming the chances that the bill can become law this year. But the chances of a successful vote were already slim, and this delay at least gives lawmakers more time to sort out their outstanding issues.

You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.

The narrative

The Digital Asset Market Clarity Act will not make it through any Senate procedural votes in August. It's an open question whether it will make it through the Senate when lawmakers return in mid-September. But it seems clear that the bill would not have made much progress if a vote had been held.

Why it matters