Crypto regulation: Senate delays CLARITY Act vote

What happened: Senate Majority Leader John Thune (R-S.D.) advanced the Cryptocurrency Market Regulation Integrity Act (CLARITY Act) towards a vote, but the process was delayed until September. The SEC is expected to introduce two initiatives for the crypto industry during the recess, while the Office of the Comptroller of the Currency (OCC) has paved the way for crypto banks.

Market impact: The delay in the CLARITY Act vote could lead to uncertainty in the crypto market, potentially impacting the valuation of crypto assets and related companies. Meanwhile, the SEC's and OCC's regulatory moves may drive demand for certain crypto services and influence the market structure.

What to watch next: The Senate's return from recess in September for the CLARITY Act vote, the SEC's introduction of its crypto initiatives in August, and the OCC's finalization of its crypto bank regulations.