Clarity bill pushed to September as bitcoin sets August high

[DigitalToday reporter Hyunwoo Chu] The biggest topic in the crypto industry was the U.S. Senate's 'Clarity Act (Digital Asset Market Structure Act)'. Expectations rose on talk of a possible vote before the August recess, but action ultimately slipped to September. Even as the bill drifted, bitcoin rose above $65,000 to set a new August high, and institutional buying, including from Morgan Stanley, continued steadily.

Altcoins such as XRP, Shiba Inu and Cardano posted mixed moves amid regulatory uncertainty. Robinhood and Dinari expanded support for tokenisation and trading, speeding up their push into the regulated mainstream. Security risks linked to quantum computing and conflict over an Ethereum upgrade also emerged as new variables.

• Pre-recess passage in August ultimately fails; U.S. Clarity Act vote postponed to September • U.S. Clarity Act pushed to September; White House crypto adviser: "Democrats are responsible" • Coinbase and Circle pull ahead; Clarity Act delay fuels 'regulatory polarisation'

The Clarity bill was ultimately postponed. Passage before the August recess fell through and the vote was pushed to September. A White House crypto adviser put the blame for the delay on Democrats, and disappointment spilled out across the industry. 'Regulatory polarisation' caused by the delay was also cited as a side effect. Large players such as Coinbase and Circle, which already have their own compliance frameworks, are pulling further ahead, while latecomers are stuck in uncertainty, the argument goes. The market reacted immediately and XRP was forced to put the $1 level to the test.