CLARITY Act Faces Hurdles Despite GOP Plans to Move Forward

Senate Republicans are planning to move forward on the CLARITY Act before Congress breaks for recess in August. This procedural step, known as cloture, would allow the Senate to begin debate on the bill and potentially pave the way for a full vote in September.

The move comes despite the fact that Republican leaders have not yet secured the necessary votes to invoke cloture. According to industry officials, disagreements remain over issues such as stablecoin rewards and yield-related provisions, including bipartisan ethics measures.

Eleanor Terrett, host of Crypto in America, noted on August 7 that seeking cloture would be a key step ahead of a full vote in September.