CFTC Chairman Michael Selig has publicly urged Congress to advance the Clarity Act, a crypto market-structure bill designed to define regulatory oversight for digital assets, before lawmakers break for the August recess. Selig described the legislation as 'so close' to passage, signaling optimism that a final agreement could be reached within a tight timeframe. However, the bill still faces unresolved disputes, including disagreements over ethics rules and specific stablecoin provisions, which could complicate efforts to secure a vote. The Clarity Act aims to establish clearer jurisdictional boundaries and reduce regulatory uncertainty for the industry. Its passage would represent a significant step in shaping how U.S. authorities supervise crypto trading and related activities. With the deadline approaching, pressure is mounting on legislators to reconcile outstanding differences and finalize the measure before the scheduled congressional break begins.
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