News linked to both this project and an event.
the long-awaited digital asset regulatory bill, the CLARITY Act, has hit a snag in its advancement. Senate Majority Leader John Thune stated that the Senate is not expected to pass the bill before the August recess.The CLARITY Act aims to establish a clearer regulatory framework for digital assets, promoting the integration of blockchain and crypto assets into the mainstream financial system. Previously, the bill had undergone multiple rounds of negotiations between the crypto industry and opposing forces, such as the banking sector, and was once considered close to passage.However, recent controversy surrounding conflicts of interest related to President Donald Trump and his family's involvement in crypto projects has emerged as a new obstacle. Democrats are demanding the inclusion of ethical clauses in the bill that would restrict government officials from profiting from crypto transactions, a stance Republicans have previously opposed. Prediction market data indicates that the probability of the CLARITY Act passing this year has significantly declined. Polymarket data shows that as of Friday, the probability stood at approximately 37%, well below the over 80% level seen earlier this spring.Crypto policy organizations and industry insiders believe the current delay is largely influenced by the political dynamics of the U.S. midterm elections. Ron Hammond, Head of Policy and Advocacy at Wintermute, stated that the votes to support the bill may still exist, but "election politics are louder." He suggested that a window for advancing the bill could still emerge after the November elections.Analysts point out that if Congress needs to prioritize major issues such as government funding and national defense before the end of its current term, the CLARITY Act could be further marginalized. As the U.S. political landscape may shift following the midterm elections, the outlook for crypto regulatory legislation remains highly uncertain. (Fortune)
According to CoinDesk, the U.S. Crypto Market Structure Bill Clarity Act failed to be signed within the previously expected timeframe. As Congress approaches its summer recess, pressure is mounting for the bill to be enacted within 2026. However, several observers following the legislative process remain cautiously optimistic about its passage within the year, believing that current key coordination efforts are still ongoing, including the consolidation of content between the Senate Agriculture Committee and Banking Committee versions.
Oman's Ministry of Foreign Affairs released the relevant content of Foreign Minister Badr's recent interview. Badr stated that Oman is always committed to ensuring a safe, peaceful, and free navigation environment for all parties in the Strait of Hormuz. He pointed out that Oman and Iran have reached a consensus in ongoing dialogues, and any future arrangements involving the Strait of Hormuz must be conducted within the framework of international law.Regarding the issue of toll fees that has drawn public attention, Badr stated that Oman does not support charging passage fees for transit ships, but did not rule out the possibility of discussing mechanisms related to maritime services. Badr said that discussions could be held on topics such as enhancing navigation safety, improving maritime accident emergency response capabilities, and preventing marine pollution. In this regard, practices from other straits could serve as references. He stated that such arrangements would be negotiated and formulated with countries and shipping companies using the Strait of Hormuz shipping route. Their purpose is to improve maritime services and ensure navigation safety, rather than adding new burdens to global trade. (CCTV News)
Coinbase CEO Brian Armstrong stated that the "CLARITY Act" is "closer than ever" to advancing toward passage.Brian Armstrong noted that the bill would make the US financial system faster, cheaper, and more inclusive, helping the United States maintain its leadership in the competition for the next-generation global financial system.He also expressed gratitude to US Senate staff and the 3.7 million Stand With Crypto supporters, stating that these groups have driven the bill to its current stage.
According to The Block, Jaret Seiberg, Managing Director of the Washington Research Group at investment bank TD Cowen, stated that stablecoin yield issues are not the sole obstacle to the passage of the Clarity Act—and cited the following five additional hurdles: 1. A severe shortage of Commodity Futures Trading Commission (CFTC) commissioners: only Chairman Michael Selig remains in office, and the process to appoint new commissioners could take several months, while the bill must complete its review by the end of July; 2. Complex regulatory questions surrounding prediction markets—including concerns about insider trading and potential conflicts of interest involving the Trump family—which may prompt Democratic lawmakers to withdraw their support via related amendments; 3. Ongoing controversy surrounding World Liberty Financial, a cryptocurrency project affiliated with the Trump family, increasing political resistance from Democrats toward supporting the bill; 4. Reports indicating Iran is discussing requiring vessels transiting the Strait of Hormuz to pay tolls in cryptocurrency—a development that could trigger contentious anti-money laundering (AML) amendments, potentially serving as a “poison pill” for the bill; 5. Risk that the Credit Card Competition Act could be attached to the Clarity Act, jeopardizing the entire bill’s progress. Regarding stablecoin yield issues, Senator Thom Tillis indicated that the Senate Banking Committee will not vote on the bill until as early as May. TD Cowen maintains its assessment that the bill has approximately a one-in-three chance of passing this year, while Galaxy Digital estimates the probability at roughly 50%.
According to Reuters, Greek maritime risk management company MARISKS has warned that some shipping companies stranded west of the Strait of Hormuz have received fraudulent messages impersonating Iranian authorities, demanding payment of a “transit permit fee” in Bitcoin or Tether (USDT). These messages are scams and not issued by official Iranian authorities. MARISKS stated that the scam messages claim documents must first be submitted and assessed by the “Iranian Security Department” before the cryptocurrency fee is determined. Currently, approximately hundreds of vessels and around 20,000 seafarers are stranded in the Gulf. During Iran’s brief opening of the Strait on April 18, at least two vessels—including one oil tanker—were forced to turn back after Iranian vessels opened fire on them.
Coinbase CEO Brian Armstrong responded to U.S. Treasury Secretary Scott Bessent’s call for the passage of the “Clarity for Digital Assets Markets Act” (CLARITY Act), expressing agreement and gratitude for his advocacy. Armstrong emphasized that bipartisan collaboration between senators and staff over the past several months has significantly strengthened the bill. Earlier, the U.S. Treasury Secretary urged Congress to swiftly pass the CLARITY Act.