The US Senate may advance a vote on the CLARITY Act this week, with the 60-vote threshold being the biggest hurdle.
BlockBeats reports that on July 27, U.S. Senate Republicans plan to push the "CLARITY Act" into the formal review process this week. Senate Majority Leader John Thune aims to make progress on the bill before the August recess.
According to the agenda, Republicans may first submit a motion to end debate, a procedure that requires the support of 60 senators to advance. However, the bill is still short of the 60-vote threshold, making Democratic support crucial.
Previously, seven Democratic senators indicated that the latest version of the CLARITY Act is still "insufficient" regarding ethical provisions, illicit finance supervision, and conflict of interest regulations. Republicans are negotiating with Democrats, seeking to amend the relevant clauses to secure bipartisan support.
In addition, uncertainty exists within the Republican Party. With a limited seat advantage in the Senate and the expected absence of Mitch McConnell, the stances of Republican senators such as Josh Hawley and Rand Paul—who previously opposed the GENIUS Act—remain under close watch.
Meanwhile, U.S. SEC Commissioner Hester Peirce warned that simply moving traditional financial products onto the blockchain does not automatically avoid securities regulation. She stated that some crypto yield vault products, if actively managed by third parties, may meet the characteristics of investment funds and would need to comply with securities laws.
Peirce emphasized that the SEC does not regulate developers writing code itself, but companies cannot assume different regulatory rules apply just because their business is on-chain. She advised related projects to seek legal advice in advance during product design and to communicate with regulatory agencies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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