Overview
- The Digital Asset Market CLARITY Act cleared the House last year and passed the Senate Banking Committee but still needs roughly 60 votes on the Senate floor to overcome a filibuster and reach a final vote.
- Faith‑based and law‑enforcement groups have pressed senators to revisit Section 604, the Blockchain Regulatory Certainty Act safe harbor for DeFi developers, saying it could weaken anti‑money‑laundering tools and hinder trafficking investigations.
- Industry trade groups including the Blockchain Association and Crypto Council for Innovation sent a joint letter on June 21–23 urging the House Ways and Means Committee to advance H.R. 9175, the Tax Clarity for Mining and Staking Act, without changes.
- Representative Steven Horsford has proposed a five‑year cap on reward deferrals, a change industry leaders say would break the bill, while banking groups warn that allowing deferral could give crypto yield products an unfair tax advantage over interest and dividends.
- With a narrowing pre‑recess window, ongoing White House negotiations, and split public odds on passage, lawmakers must reconcile DeFi liability, ethics, AML and stablecoin language before the August recess or both regulatory and tax fixes may slip past this session.