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      U.S. Senate to Vote on Clarity Act for Cryptocurrency Regulation

      The U.S. Senate is set to vote on the Clarity Act on September 15, a piece of legislation aimed at establishing a regulatory framework for cryptocurrencies, including Bitcoin. The bill has garnered support from the cryptocurrency industry, which views it as essential for the sector's long-term growth. However, uncertainty looms over whether it will secure the necessary votes for passage, as last-minute lobbying efforts intensify.

      The Clarity Act cleared the Senate Banking Committee in May but has faced delays as lawmakers debate its implications for digital assets, including stablecoins. For the bill to pass, it requires at least 60 votes in the Senate, meaning that seven Democrats would need to support it. Senate Majority Leader John Thune scheduled the vote before the August recess, making it a critical moment for cryptocurrency regulation ahead of the upcoming congressional midterm elections in November.

      Opposition from U.S. banks has emerged, with concerns that the bill could lead to a flight of deposits from large lenders if it allows interest payments on stablecoins. Additionally, some Senate Democrats have indicated they will not support the legislation unless it includes provisions to prevent officials, including President Donald Trump, from profiting from cryptocurrency ventures. President Trump has publicly urged the Senate to approve the Clarity Act, which would then require his signature to become law.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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