Three Key Senate Disputes Delay CLARITY Act Vote Scheduled for Sept. 15
- Senate leaders filed for a procedural vote on the CLARITY Act set for Sept. 15, but unresolved issues may block the required 60 votes.
- Disagreements focus on crypto ethics, stablecoin rewards, and protections for DeFi developers.
- Prediction markets show a high likelihood (91%) of a Senate vote before October, but only a low chance (13%) of the bill becoming law this year.
- The SEC and CFTC are already drafting fallback rules as Galaxy Research reduced the odds of the CLARITY Act passing to just 10%.
- Coinbase reportedly earns $1.35 billion annually from USDC rewards, raising concerns over stablecoin yield loopholes in current legislation.
The ongoing disputes within the Senate highlight significant regulatory challenges facing the cryptocurrency sector, particularly regarding ethics and developer protections. A failed vote on Sept. 15 could lead to increased agency rulemaking as regulators move forward without legislative clarity.
With Bitcoin previously reaching $71K amid hopes for CLARITY approval, any delays could reverse positive market momentum significantly before midterms.(Source)
