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CLARITY Act Gains Momentum As Senate Targets Post-July 4 Vote

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CLARITY Act Gains Momentum As Senate Targets Post-July 4 Vote
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The CLARITY Act is gaining momentum in Washington as Senate lawmakers negotiate to secure a floor vote soon after the July 4 recess. Members of the Senate Banking and Agriculture Committees are working to resolve key issues that will determine whether the crypto market structure bill advances before the end of July. A central debate concerns the Blockchain Regulatory Certainty Act (BRCA), which aims to protect non-custodial software developers from liability unless they knowingly facilitate illegal activity.

With only days left before the holiday recess, senators are working to resolve differences on several provisions. The BRCA is a key focus, attracting support from crypto advocates but raising concerns among law enforcement groups who fear it could hinder investigations into illicit blockchain activity.

The legislation gained further support this week when Senator Bill Hagerty called it a critical framework for advancing digital asset innovation in the United States. In an interview with Fox Business, Hagerty emphasized that regulatory certainty is essential for the industry to grow beyond payment applications and compete globally.

The White House has increased its involvement. Crypto adviser Patrick Witt and the White House Crypto Council recently met with representatives from the Treasury Department, FinCEN, the Department of Justice, congressional staff, and national law enforcement organizations. The 90-minute discussion focused on balancing innovation with effective enforcement tools.

Supporters warn that delaying the bill beyond summer could significantly reduce its chances of passing this session. Representative Dusty Johnson has urged lawmakers to complete the process before August instead of waiting for a post-election session.

If enacted, the CLARITY Act would clarify the responsibilities of the SEC and CFTC and provide legal certainty for crypto businesses, developers, and investors.

 

 

Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV

 

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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