TechFlow news, July 20: According to Crypto in America, the U.S. Crypto Market Structure Bill "Clarity Act" has only 14 working days left before the Senate recess in August, but the voting date remains undetermined, the latest bill text has not yet been released, and negotiations on core controversies remain deadlocked.
The core sticking point lies in the ethics provisions—provisions aimed at preventing government officials from profiting from digital assets have not yet received White House endorsement. Last Thursday, Trump held a closed-door meeting in the Oval Office with Senators Cynthia Lummis, Bernie Moreno, and the White House Chief of Staff, among others, but as of now, the White House has not clearly stated which ethics parameters it supports.
Other major points of contention include:
- Whether BRCA (Blockchain Regulatory Certainty Act) can be retained; it currently faces public opposition from the National Sheriffs' Association, which calls cryptocurrency the "cartel's currency of choice"
- Certain provisions of the Agriculture Committee, involving conflicts of interest such as crypto exchange vertical integration, related-party transactions, and state law preemption
- Whether the support votes of Democratic Senators Warner and Cortez Masto can be secured; their stance depends on whether the bill adequately addresses law enforcement concerns regarding illicit finance
The prevailing view on Capitol Hill holds that negotiating parties must complete procedural voting groundwork before this weekend, otherwise the bill will miss the final window before the August recess.
