Senate Advances Crypto Bill Despite Lobby Objections
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- The US Senate advanced the landmark crypto bill (Clarity Act) before heading into August recess, per Reuters, while the Financial Times reports the bill stalled in the Senate despite a $225 million industry spending push
- The crypto lobby publicly objects to the Clarity Act, per the Wall Street Journal, with the Senate delaying the vote and at least one outlet (Barro) framing crypto's legislative priority as now a 'Hail Mary'
Why it matters: The $225 million lobbying campaign failed to clear the bill before recess, and the crypto lobby is publicly objecting to the legislation it nominally backed — signaling deep internal industry division over the Clarity Act's final shape going into September.
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