CLARITY Act Senate Vote Looms on September 15: Can Republicans Clear 60-Vote Hurdle?
The CLARITY Act, a bipartisan effort to establish a federal rulebook for digital assets, is heading into its biggest test of the year. The Senate will hold a cloture vote on September 15, requiring 60 votes to open floor debate.
Republicans control 53 seats and need Democratic crossovers to clear this hurdle. The revised draft, which has over 100 changes requested by Democrats, includes a requirement for non-decentralized DeFi protocols to register with the CFTC, applying specifically to spot crypto trading.
Coinbase CEO Brian Armstrong believes the bill is close to securing enough Senate support, citing remaining disagreements on ethics provisions. However, Grayscale's Zach Pandl argues that regulatory clarity is already improving independent of this specific bill.