CLARITY Act gets September Senate vote as CFTC Chair Mike Selig signals fallback

The CLARITY Act is scheduled for a September Senate floor vote, where a cloture test will determine whether supporters can secure the required 60-vote coalition. CFTC Chair Mike Selig said on August 21 that the agency would advance crypto market rules if what he called continued Democratic obstruction stalls the bill, although existing CFTC powers do not extend to the full framework envisioned by Congress.

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