CLARITY Act procedural vote moves forward on Friday. Senate Majority Leader John Thune filed cloture on the motion.
The vote is expected after the Senate reconvenes. That happens on September 15.
Why CLARITY Act procedural vote matters
Thune’s move puts the crypto bill back on track. Lawmakers now have several more weeks to resolve disagreements. Negotiations continue over ethics and stablecoin provisions.
The Senate Daily Press confirmed the filing. Invoking cloture requires 60 votes. Republicans will need Democratic support to clear the hurdle.
The cloture vote concerns whether to take up the legislation. It is not for final passage of the bill itself.
What the CLARITY Act would do
The bill would establish federal market structure for digital assets. It would clarify when crypto assets fall under securities laws. Oversight responsibilities would be divided between SEC and CFTC.
Current negotiations
Ethics provisions have stalled the process. Lawmakers are working on a bipartisan ethics addendum. The proposal would address concerns over President Trump’s crypto interests.
A Bloomberg report detailed the draft proposal. It would require the president to divest from certain crypto businesses. This aims to break the current impasse.
What happens next
The procedural move puts the bill toward Senate consideration. It does not guarantee final passage nevertheless. The CLARITY Act must still overcome several hurdles.
Crypto market participants will watch the September vote closely. The outcome could shape US digital asset regulation.