CLARITY Act struggles to gain Democratic support, Politico reports

A revised version of the CLARITY Act is unlikely to secure the necessary support from Democratic lawmakers, Politico reported on July 16. The U.S. Senate was expected to release the updated bill following a meeting with President Donald Trump. According to the political news outlet, the bipartisan consensus required for the bill's passage has not been achieved. Democrats have reportedly indicated they will not vote for the legislation, citing that its ethics provisions—which address President Trump's interests in the cryptocurrency industry—do not meet their demands. Republicans plan to push for a vote before the August recess, but the bill requires at least 60 votes from both parties to pass the full Senate.