BlockBeats News, July 12 - The Clarity Act, which provides a regulatory framework for the digital asset industry, is facing a key legislative window. Bipartisan negotiations in the United States have yet to reach an agreement on government official ethics rules and illicit finance.

If the bill fails to advance before the August recess, there is almost no time window before the midterm elections, which could result in the legislative process starting over.

Currently, the Republican leadership aims to push for deliberation during the week of July 20, but it will require support from at least 7 Democratic senators to pass.