US Senate to Skip Crypto Clarity Act Vote Before Summer Recess

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The US Senate will not hold a vote on the Clarity Act before heading into its summer break, dealing a setback to the cryptocurrency legislation. The delay significantly reduces the chances of the bill being signed into law within this calendar year. While the Senate has not yet departed for its August recess, the Clarity Act has been pushed off the chamber's near-term agenda. Supporters of the bill, which aims to provide regulatory guidance for the crypto industry, will now have to wait for lawmakers to return before pushing for further progress.

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