
Senate delays Clarity Act vote to September. Lummis and Alsobrooks say bipartisan work continues. 'We've come too far to quit,' Lummis said.
The Senate postponed a vote on the Clarity Act until after the August recess, two senators said Friday. The bill, which passed the House last year, will now get a floor vote in September.
Senator Cynthia Lummis, a Republican from Wyoming, and Senator Angela Alsobrooks, a Democrat from Maryland, both issued statements vowing to continue bipartisan work on the legislation.
“We’ve worked for over a year on a bipartisan basis to protect consumers, limit deposit flight, fight illicit finance, and include a fair deal on ethics,” Alsobrooks said.
Lummis said she was “struggling to understand” what Democrats still wanted before the bill could move forward. She added: “There will be a time where I can say more, but for now, let me say this, we’ve come too far to quit. I will continue working with my colleagues to get this done. This fight is far from over.”
The delay stems from unresolved disagreements over stablecoin yield rules and ethics provisions. Banking lobbyists have clashed with crypto exchanges over how much interest stablecoin products can pay customers. Democrats have also pushed for stricter ethics rules to prevent government officials from profiting from digital assets.
Lummis had criticized Democrats for holding up the bill. She said in a statement last week that she could not understand what additional changes were needed.
No date has been set for the September vote.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.