Senate Sets September Vote on CLARITY Act

The US Senate has scheduled a September vote on the CLARITY Act, a landmark bill that would establish a federal framework for the cryptocurrency industry.

The decision comes after lawmakers failed to reach an agreement before the August recess, with negotiations over consumer protections, stablecoins, and restrictions on government officials' involvement in cryptocurrency businesses stalling progress.

Senate Majority Leader John Thune filed a cloture motion on Saturday to begin the process of bringing the CLARITY Act to the Senate floor, with a procedural vote scheduled for September 15 at 12:15 pm ET.

The bill still needs 60 votes to advance in the Senate, meaning Republican leaders must secure enough Democratic support to move it through.