CLARITY Act Hits Crucial Vote Deadline: Will Crypto Regulation Get the Green Light?
The CLARITY Act is set to face its do-or-die vote on September 15, with a cloture motion requiring 60 votes to advance. This would allow the bill to proceed to floor debate and amendments, but failing it would halt the process entirely for this session.
Adrian Wall, Managing Director at the Digital Sovereignty Alliance, explained that a failed vote would make a near-term second attempt unlikely due to the Senate's shrinking calendar before midterm campaigning.
The CLARITY Act aims to resolve jurisdictional gaps that have left crypto companies in the US without clear regulatory guidance. It would establish a statutory test determining when a blockchain network and its associated token qualify as a 'digital commodity', based on factors including network control and maturity.