Clarity Act delayed by housing bill dispute and lack of consensus

The crypto market structure bill (CLARITY) being discussed in the U.S. Congress could be delayed due to a lack of consensus and a conflict over a housing bill, CryptoSlate reported. Senate Banking Committee Chairman Tim Scott is reportedly working to secure the support of all 13 Republican members, but some, including Senator John Kennedy, are withholding their backing due to delays in their own housing legislation, the Build Now act. Additionally, there is insufficient agreement on provisions within the bill, such as those concerning stablecoin interest and developer protections. Law enforcement agencies have raised concerns that granting broad immunity to crypto developers could create regulatory blind spots. Galaxy Digital (GLXY) predicts that if the Banking Committee's markup vote on the bill is pushed past May, its chances of passing will decrease significantly as the U.S. midterm election schedule approaches.