CLARITY Act Lives On: Second Chance at Senate Cloture Vote Possible

The CLARITY Act, a bill aimed at improving the crypto market structure, may not be dead yet. Despite failing to pass the Senate, a procedural hurdle has been cleared for another vote. Crypto influencer Kyle Chassé believes that this is possible due to a similar scenario with the GENIUS Act last year.

Last year, the GENIUS Act was initially voted down 48-49 on May 8 but passed with 66-32 on May 19. This could be a pattern for the CLARITY Act, which also failed cloture vote recently. Chassé's argument is based on Senate procedure, where a senator who voted with the prevailing side can ask to reconsider a failed cloture vote.

However, there's another challenge - the Senate's tight calendar. The next session will leave town on October 1, and only about eleven working days remain before the election. Chassé notes that the House has already taken time off for the remainder of September.