Thune to File Cloture Motion for Clarity Act as Early as August 6
Senate Majority Leader John Thune is expected to file a cloture motion for the Clarity Act as early as August 6, according to a report from Eleanor Terrett. The delay in filing the motion stems from the chamber's need to clear a stopgap funding bill first.
The Clarity Act aims to provide regulatory clarity for digital assets by assigning oversight to either the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC). This has been a priority for many in the crypto industry, but the Senate's focus on avoiding a government shutdown has taken precedence.
The cloture motion requires 60 votes to proceed, and support for this threshold has not yet been firmly secured. Disagreements over the bill's provisions persist across party lines and within factions, making the path to passage uncertain.