Cloture Motion Filed on Crypto Clarity Act Ahead of September Vote

US Senate Majority Leader John Thune has filed a cloture motion on the Digital Asset Market Clarity Act, which will bring the bill closer to a Senate floor vote. The procedural vote is now scheduled for September 15, following lawmakers' return from the August recess.

The Clarity Act aims to establish a clearer regulatory framework for digital assets by defining the respective oversight roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

With Republicans holding a Senate majority, the legislation would require support from at least seven Democrats or independents if all Republicans vote in favor. Lawmakers still need to resolve several disagreements before the bill can advance further.