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Crypto bet big on U.S. regulation, and now its landmark legislation hangs in the balance

The crypto industry's biggest legislative bet is being put to the test as Congress prepares to return from its August recess. Lobbyists and lawmakers are sifting through the Clarity Act in hopes of passing the comprehensive crypto rulebook before the midterm elections. But the industry is signaling waning confidence that the bill will pass, and is instead looking to other agencies like the SEC and CFTC to regulate the industry without Clarity.