Thune Files Cloture Motion on CLARITY Act Ahead of Senate Vote

The CLARITY Act, a bill aimed at establishing a federal regulatory regime for digital assets, has taken another step forward in the Senate. Senate Majority Leader John Thune filed a cloture motion on August 8, just before the Senate recessed for the summer.

This means that when lawmakers return to Washington in September, they will have the opportunity to vote on the bill. The CLARITY Act would provide more clarity on crypto exchanges and clarify the regulatory obligations around digital assets.

Negotiations over sticking points continue, with banks pushing for changes to the stablecoin yield clause. This has been a major point of contention throughout the process.