Senate Set for Crucial Vote on CLARITY Act as Key Disputes Remain Unresolved
The Senate is set to vote on September 15 on the motion to proceed to H.R. 3633, a crucial step in advancing the CLARITY Act.
The bill aims to create a broader federal framework for digital-asset market structure and clarify when crypto assets fall under the jurisdiction of the SEC or CFTC.
However, several issues remain unresolved, including ethics restrictions, stablecoin rewards, and prediction markets. These disputes could determine whether the legislation becomes law.
The revised draft of the bill includes new language that attempts to address the DeFi loophole by focusing on control rather than labeling.
A successful cloture vote would allow lawmakers to begin formal debate and consider amendments, but it is not a guarantee of final passage. The Senate math is already tight, with Republicans needing at least seven votes from outside their conference to reach the 60-vote threshold.