The Senate has left Washington for the July 4 recess, and the fate of the Clarity Act, the most sweeping digital asset market structure legislation Congress has ever attempted, now rests on negotiations happening out of public view, according to reporting from Crypto in America.

Senators return July 13. From that point, the window to pass the bill before August recess is narrow, and the remaining obstacles are substantial. 

Senate Majority Leader John Thune has signaled he wants to use the week of July 13 for the National Defense Authorization Act, the must-pass defense bill. That would push Clarity Act floor consideration to late July or the first week of August, the final…

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