Thune Sets Sept. 15 Vote for Crucial Crypto Regulation Bill

Senate Majority Leader John Thune has moved forward on the Digital Asset Market Clarity Act (CLARITY Act), filing a cloture motion to proceed with the bill. This is a crucial step in advancing the legislation, which aims to provide clarity on digital asset market regulation.

The cloture motion requires 60 votes, or three-fifths of the Senate, to end debate and allow the chamber to take up the bill. Republicans will need Democratic support to advance H.R. 3633, even before any vote on amendments or final passage occurs.

The CLARITY Act has a House framework that retains the Commodity Futures Trading Commission's role over digital commodity exchanges, brokers, and dealers, alongside the Securities and Exchange Commission's preserved jurisdiction over primary-market transactions.

A successful cloture vote would not settle crypto regulation on its own; it would only open the floor to debate and amendments. The bill's passage still requires final scheduling, which has been delayed due to competition for floor time.