US SENATE ADVANCES CLARITY ACT AHEAD OF AUGUST RECESS

Summary from the TLDR Fintech newsletter

Senate Majority Leader John Thune moved to set up a procedural vote on the CLARITY Act for when lawmakers return in September, giving the crypto market structure bill a path toward the Senate floor. The legislation would establish the first comprehensive federal framework for digital assets, but passage still depends on securing at least 60 votes amid Democratic concerns over government officials' crypto interests and ongoing disputes with banks over stablecoin rewards.