Senate strives to advance crypto legislation in July, but housing bill chaos may disrupt legislative timeline

CoinFeed June 26 news, according to The Block, the U.S. Senate is facing a tight schedule to advance the crypto market structure legislation, the Clarity Act, in July, but the calendar is already crowded with priorities like the National Defense Authorization Act and the farm bill. Senator Cynthia Lummis said she plans to release the bill text on July 4 and push for a vote, and a Senate aide said the Clarity Act will be a top bipartisan priority in July. However, several disputes remain unresolved. Key negotiator Senator Angela Alsobrooks said she would not support a version without ethics and illicit finance provisions, but believes all parties are 'close' to reaching a consensus. If passage fails in July, the window could close before the August recess, and industry observers worry the legislative opportunity will be postponed until the post-election transition period after the November election.