CLARITY Act Faces Uncertain Senate Vote Amid Ethics Disputes

The U.S. Senate is set to hold a cloture vote on September 15 on the CLARITY Act, but its passage remains uncertain due to disagreements over ethics provisions.

A Republican amendment includes changes to decentralized finance (DeFi) rules and expands credit unions' authority to handle digital assets, but leaves untouched the ethics provision that has faced pushback from Democrats and some Republicans.

Treasury Secretary Scott Bessent warned that failure to advance the legislation could send a negative signal about the U.S.'s competitiveness in digital-asset regulation and its ability to combat crypto-related crime.