Thune Files Cloture for CLARITY Act, Senate Vote Set for September
US Senate Majority Leader John Thune has confirmed that he plans to file cloture on the CLARITY Act, a move that would set up a procedural vote for September. Despite this development, Republicans still need to find enough votes before the bill can proceed.
The delay in moving forward with the bill is attributed to ongoing negotiations over several key issues, including stablecoin yield rules and illicit-finance provisions. The White House has yet to respond to the bipartisan ethics proposal, although pressure for an immediate response has eased due to the Senate vote being pushed back to September.
Crypto industry leaders have expressed disappointment with the delay but welcome Thune's commitment to bringing the legislation forward in September. Brian Armstrong, CEO of Coinbase, stated that 'the industry has already spent a year negotiating this bill and now needs Congress to finish the process.' Senator Cynthia Lummis echoed similar sentiments, saying, 'we've come too far to quit' and that the fight is 'far from over.'