Senate Expected to Pass CLARITY Act as Procedural Vote Looms

Arkansas Congressman French Hill believes Senate Majority Leader John Thune has enough votes to pass the CLARITY Act when it comes up for a procedural vote on September 15 at 3 p.m.

The House already passed its version of the bill last summer, with 78 Democrats voting in favor. Since then, members of the Senate Agriculture and Senate Banking Committees have been working to close the gap between the two parties.

Hill argues that passing the CLARITY Act is crucial for regulating cryptocurrency businesses, which would fall under full scrutiny from US commodity, securities, and banking regulators if it passes.