Senate CLARITY Act Vote Looms as Negotiations Continue
The Senate's CLARITY Act is set for its biggest vote yet on September 15, but it may not have reached its final form before then. White House digital assets adviser Patrick Witt has urged senators to 'get on the bill and let's keep talking,' indicating that negotiations are ongoing.
A cloture vote at 2:15 p.m. will determine whether debate can proceed with 60 votes in favor, but a proposed substitute text for CLARITY has been released by Republicans just four days prior. This amendment aims to address regulatory architecture and provide a targeted response to concerns about DeFi and prediction markets.
The new draft of the bill adds a framework for protocols that call themselves decentralized while remaining under an identifiable party's control, as determined by the Commodity Futures Trading Commission. This change repairs part of the bill's regulatory architecture and is seen as a patch to address coalition risks.