Senate Prepares to Vote on CLARITY Act Procedural Step

The Digital Asset Market Clarity Act (CLARITY Act) is one step closer to Senate consideration as lawmakers prepare for a key procedural vote on September 15.

The cloture motion, which would allow the Senate to move forward with considering the bill, is scheduled for 2:15 p.m. on that day.

H.R. 3633, also known as the CLARITY Act, aims to establish a regulatory framework for digital commodities by assigning roles to the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC).

The bill has already cleared the House with a vote of 294-134 and was advanced from the Senate Banking Committee 15-9.