The Senate put the brakes on the Clarity Act this week. The bill, which aimed to create a federal framework for crypto, was delayed without explanation. In a separate development, Circle acquired IBM's blockchain patents.
Clarity Act on hold
The legislation had been expected to move to a floor vote. Now it's stalled. No official reason for the delay was given. The Senate calendar is crowded, and the bill may not resurface until after the summer recess. Supporters of the bill had pushed for a vote before the break. That didn't happen.
Circle's patent play
Circle announced it has acquired IBM's blockchain patent portfolio. The deal includes patents covering distributed ledger technology, smart contracts, and cryptography. Circle did not disclose financial terms. The acquisition strengthens Circle's intellectual property position as it continues to expand its USDC stablecoin and payment network.
The two events, while unrelated, show two sides of the crypto world: policy and business. The Clarity Act's fate now rests with Senate leadership. Circle has not said how it will integrate the patents.
