US CLARITY Act Faces Tight Timeline With 16 Legislative Days Before August Recess

CFTC Chair Michael Selig said Congress has 16 legislative days before the August recess to advance the CLARITY Act, which would set SEC and CFTC roles for digital assets. Senate talks are slowed by ethics language, while banks including JPMorgan's Jamie Dimon oppose stablecoin provisions tied to depositlike services without FDIC insurance.