American Crypto Bill Faces Failure After Democratic Counterproposal

The American crypto bill, the CLARITY Act, is at risk of stalling again. Republicans presented a final proposal yesterday with 126 amendments, but several Democratic senators are dissatisfied. They submitted a counterproposal just before the crucial vote tonight. The bill requires 60 votes to proceed. Key concerns include the rules regarding conflicts of interest and the impact on public prosecutors' approach to crypto fraud. American banks are also worried about competition from crypto companies. The Senate vote is scheduled for 8:15 PM Dutch time. A defeat could make it difficult to pass the bill through Congress this year. The crypto market is reacting negatively, with a drop in Bitcoin, and on the prediction market Polymarket, only 19 percent expect the bill to be passed this year.

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