US House Financial Services Committee to hold hearing on CLARITY Act tomorrow

The U.S. House Financial Services Committee is scheduled to hold a field hearing at 2:00 p.m. UTC on July 17 to discuss the impact of the CLARITY Act on financial innovation. The bill passed the Senate Banking Committee in May and now awaits a full Senate vote and reconciliation with the House. Industry observers view the bill's core as its ethics provisions aimed at preventing conflicts of interest related to the Trump family's cryptocurrency businesses, and see the period before the August congressional recess as the final deadline for its passage.