CLARITY Act Vote Hangs in Balance as Senate Faces Tight Deadline
Senate leaders are pushing for a vote on the CLARITY Act, which aims to provide regulatory clarity for the crypto industry.
The bill has been tied up in negotiations over ethics provisions, with Democrats seeking stricter rules covering the president and his family. The White House maintains that it has already agreed to an ethics provision, but Senator Thom Tillis warns that the bill may fail next week if the gap is not bridged.
Senator Cynthia Lummis has framed the impasse as a Democratic problem, saying they are demanding changes that could harm the crypto industry. She warns that if the bill fails to pass this Congress, the next real opportunity for market structure legislation will be in 2030, potentially costing years of jobs, investment, and tax revenue.
The stakes are high, with a failure to advance the bill putting the Senate on a tight timeline before the new session of Congress begins in 2027. The crypto industry is closely watching the vote, which requires a three-fifths supermajority to pass.