Senate strives to advance crypto legislation in July, but housing bill chaos may disrupt legislative timeline

PANews June 26 news, according to The Block report, the U.S. Senate is facing a pressing timeline to advance the "Clarity Act" crypto market structure legislation in July, but the schedule is already crowded with priorities like the National Defense Authorization Act and the Farm Bill. Senator Cynthia Lummis said she plans to push for a vote after releasing the bill text on July 4, and Senate aides said the "Clarity Act" will be the top bipartisan priority in July. However, many disputes remain unresolved.

Key negotiator Senator Angela Alsobrooks said she would not support a version without ethics and illicit finance provisions, but believes all parties are "close" to reaching a consensus. If it fails to pass in July, the window could close before the August recess, and industry participants worry that the legislative opportunity will be pushed to the lame-duck session after the November election. Blockchain Association CEO Summer Mersinger thinks the current disputes are "serious but solvable," and a July vote is "absolutely achievable"; Digital Chamber CEO Cody Carbone also said "the market structure bill remains within reach." Trump's refusal to sign a housing bill on Wednesday added to the uncertainty, with industry sources saying "trust levels remain quite low." If it fails to pass this year, the bill will be reintroduced in the new Congress next January.

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