Thune Files Cloture Motion for CLARITY Act Amid Uncertainty
Senate Majority Leader John Thune has filed cloture on the motion to proceed to HR 3633, or the CLARITY Act, a crypto infrastructure legislation bill. This move comes after the Senate failed to advance the bill in August.
The bill is expected to be taken up 'first thing' when the Senate returns from recess on September 14th, with a potential vote occurring as early as September 15th. However, time is of the essence, as there are only a few weeks left before attention shifts to the midterm elections.
The CLARITY Act has been in negotiations between Senate Republicans and Democrats for over a year, but it's unclear whether the bill has sufficient bipartisan support to avoid a filibuster. A vote on the bill requires 60 members in support.
Senator Bernie Moreno, a Republican who supports the bill, claims that an agreement was reached weeks ago and expects all parties to uphold their commitments. However, Patrick Witt, the White House's lead on digital asset legislation, expressed less optimism, warning that if Democrats do not support the bill on September 15th, they never will.