Crypto Clarity Act Gets Fresh Hope as Republicans and Democrats Race to Reach a Deal
TL;DR
- Republican and Democratic staff intensified last-minute negotiations after 24 hours of talks, while John Thune delayed cloture to give them more time.
- Cynthia Lummis expects a vote before the August recess, citing 11 months of bargaining and more than 300 pages added for Democrats.
- Josh Hawley became the first Republican to oppose the bill, warning it could hurt small banks, while negotiators continued pursuing a bipartisan compromise before lawmakers leave.
The long-stalled Crypto Clarity Act regained a narrow path forward Wednesday as Republican and Democratic staff intensified negotiations before Congress’ August recess. Teams from both parties held last-minute meetings after spending roughly 24 hours trying to resolve the bill’s remaining disputes. The sudden burst of talks has revived hope for compromise even as the legislation’s chances appeared to be collapsing. Senate Majority Leader John Thune strengthened that opening by declining to file cloture Wednesday afternoon, giving negotiators several additional hours to bridge divisions that have repeatedly blocked the digital-asset market structure proposal in the Senate.
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