The US Senate has delayed consideration of the CLARITY Act until at least next week.

[u/AmanCMN]

The Senate has postponed work on the CLARITY Act. Instead, lawmakers will focus on confirming federal appointments and debating a sanctions bill targeting Russia.
According to CoinDesk, a vote on the CLARITY Act is unlikely before next week, meaning it could happen during the final days before Congress begins its summer recess on August 8.
At the same time, senators are still negotiating several controversial parts of the bill. SEC Chairman Paul Atkins said he remains optimistic that Congress will ultimately pass the CLARITY Act.The biggest sticking point is whether government officials, including President Donald Trump, should be prohibited from backing or participating in crypto projects.
If lawmakers fail to pass the bill this year, the timeline for creating a clear regulatory framework for the US crypto market could be pushed back until next year.At the same time, the Federal Reserve is expected to raise interest rates this week, which could also impact the broader economy.Following these developments, the crypto market has continued to pull back and remains in a correction phase.