Thune Files CLARITY Act Cloture Motion Ahead of September Vote

Senate Majority Leader John Thune has filed a cloture motion on the Digital Asset Market Clarity Act, paving the way for a Senate vote in September. The move was anticipated by crypto journalist Eleanor Terrett after she reported that Thune's office informed industry leaders of his intention to proceed with cloture before lawmakers left Washington for recess.

The filing comes after Thune announced on Friday that the Senate would wait until September to consider the bill, a decision that was met with skepticism by some observers. The Clarity Act aims to establish a federal regulatory regime for digital assets and provide more clarity on crypto exchanges and their regulatory obligations.

Negotiations over the bill's sticking points continue, including the stablecoin yield clause, which has emerged as a major point of contention. Banks have been lobbying Republican members to change the language, sparking concerns that it may be too late for the bill to pass in its current form.