Donald Trump · US Senate · US Congress · Cynthia Lummis · The Block
Senate races to push crypto legislation in July as housing bill turmoil threatens timeline
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A sweeping cryptocurrency bill faces a narrowing path to passage as pressure grows on the Senate to take up the legislation next month.
Key facts
- I don't see how there could be anything by July 4," a Senate staffer told The Block this week
- Blockchain Association CEO Summer Mersinger said issues around ethics and combining both versions of the Clarity Act in the Senate Banking Committee and Senate Agriculture Committee are "active
- The Clarity Act is high up on the list for July, a Senate aide told The Block
- This week, the American Bankers Association put out ads in Politico's Morning Money newsletter urging lawmakers to "close the stablecoin loophole
Summary
The Senate's to-do list over the next few weeks is overflowing with priorities, from the annual defense authorization bill and renewal of the farm bill to revisiting a major housing package after President Donald Trump said on Wednesday he would not support it unless Congress first passes legislation requiring proof of citizenship to vote in federal elections. Time is running out to vote on those bills before lawmakers leave Washington for the August recess. On Wednesday on Fox Business, Sen. "We're finally to the point where we're going to put out text over July 4 and give people one last good look through the bill, and then we're moving in July," Lummis said.