CLARITY Act Likely To Fail in September. Will Crypto Prices React?

The US Senate is preparing for a possible September vote on the CLARITY Act, even as lawmakers remain short of the support needed to move the crypto market structure bill forward.

Senate Majority Leader John Thune still intends to file cloture on the motion to proceed before lawmakers leave for the August recess, according to journalist Eleanor Terrett, citing multiple sources.

The move would put the CLARITY Act in position for a procedural vote when the Senate returns in September. It would also signal that Republican leadership plans to prioritize the bill despite unresolved disagreements.

However, the votes are not there yet.

60 Votes are Still Not There for CLARITY

The Senate would likely need 60 votes to move the legislation forward. Republicans do not have enough support on their own, while several GOP senators have also raised concerns about parts of the bill.

One of the biggest disputes is over stablecoin rewards.

Banks have stepped up lobbying against rules that would allow crypto companies to offer rewards linked to stablecoin use. They argue these products could draw deposits away from traditional banks.

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