The U.S. Senate has postponed a vote on the Digital Asset Market CLARITY (Clarity for Payment Stablecoins and Digital Asset Market Structure) Act until after its August recess, dimming prospects for one of the cryptocurrency industry's most anticipated pieces of legislation this year.
The bill, which seeks to establish a comprehensive federal regulatory framework for digital assets and clarify whether cryptocurrencies fall under the jurisdiction of the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC), had been expected to reach the Senate floor before lawmakers left Washington for their summer break.
