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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Senator Cynthia Lummis plans to introduce the Bitcoin Clarity Act before the August recess to establish a U.S. regulatory framework. While some Senate Democrats have opposed the bill, labeling it 'corrupt,' Treasury Secretary Scott Bessent indicated on July 21 that the legislation is nearing passage. The act represents a significant step toward defining the legal status of bitcoin in the United States.