CLARITY Act Uncertainty: Bipartisan Agreement Still Elusive in US Senate

The fate of the CLARITY Act, a bill aimed at establishing a legal framework for digital asset oversight in the US, remains uncertain. Senate Majority Leader John Thune's decision to file cloture on the college sports bill instead of the CLARITY Act suggests there is still no bipartisan agreement on the legislation.

The CLARITY Act needs 60 votes to advance and currently holds 51 confirmed votes. Reports indicate that 7-10 Democrats are signaling support, which would push the bill past the threshold. However, the decision to vote on a different bill indicates that all votes have not been secured.

The holdout is an ethics provision that Democrats want to include in the bill through state-level legal enforcement against the DOJ. The White House and Republicans have pushed back on this proposal.