Senate Majority Leader Thune filed a motion for a September procedural vote on the CLARITY Act. The bill needs 60 votes to advance, with disputes over ethics and stablecoin rewards unresolved.
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The Senate will vote on the CLARITY Act in September after Majority Leader John Thune filed a motion late Friday, setting up a procedural test when lawmakers return from recess.
Thune's filing, reported Saturday, locks the crypto market structure bill near the front of the September agenda. Senators are expected back on Sept. 14.
“We're getting that queued up first thing when we come back,” Thune said before the recess.
The initial vote would decide whether the Senate proceeds to debate the legislation. It is not a final passage vote; lawmakers would still need to consider amendments and approve the final text. The procedural step does not mean Republicans and Democrats have resolved the disagreements that stalled the bill in August.
Lawmakers remain split on ethics restrictions covering government officials' crypto holdings, enforcement powers, anti-money-laundering safeguards, and stablecoin rewards. Democrats have pushed for stronger conflict-of-interest rules and additional consumer protections.
Sen. Elizabeth Warren has said she supports federal crypto legislation but opposes the current CLARITY Act, citing concerns over government corruption, consumer protection, national security, and financial stability.
Stablecoin rewards are a major sticking point. Banking groups have pushed to restrict payments for holding stablecoins, arguing such products could pull deposits from traditional banks. Crypto firms say broader restrictions would reduce competition. The current compromise would restrict passive yield for holding stablecoins but allow rewards tied to customer activity. Changes to these rules could affect Coinbase's USDC rewards business, which generates an estimated $1.35 billion in annual revenue, crypto.news reported.
The House passed an earlier version of the bill 294–134 in July 2025. The Senate Banking Committee advanced its version 15–9 in May 2026, with Democrats Ruben Gallego and Angela Alsobrooks joining Republicans.
Clearing the committee did not guarantee sufficient support on the Senate floor. Thune would need 60 votes to end debate, requiring support from several Democrats. Without the legislation, crypto companies face the current mix of SEC and CFTC oversight, court rulings, and state-level requirements.
Bitcoin traded near $64,980 on Saturday, up 0.4%. Coinbase closed at $153.60, gaining 5.7%. Those moves followed broader market trading and cannot be tied solely to the Senate development.
The next test comes when senators return in September. Lawmakers must settle the remaining disputes and secure enough bipartisan support before the bill can advance past the procedural vote.
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