CLARITY Act Stalls as GOP Senators Warn of Potential Defeat

The fate of the CLARITY Act hangs in the balance as Republican senators warn that it may not have enough support to pass its crucial procedural vote on September 15.

The legislation, which aims to establish clearer boundaries between the SEC and CFTC in overseeing digital assets, needs 60 votes to advance. However, with only 53 Senate seats held by Republicans, they cannot pass it without Democratic support.

Ethics restrictions involving President Donald Trump and his family's crypto interests remain a major sticking point, with Democrats pushing for stronger safeguards to prevent senior government officials from profiting from digital assets while influencing the industry's regulatory framework.

Ripple CLO Stuart Alderoty is urging undecided and opposing senators to meet ordinary crypto holders before voting, arguing that lawmakers should hear how the legislation could affect individual holders. He estimates that 67 million Americans own crypto.