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Crypto Clarity Act Vote Hinges on White House Approval This Week
Senate has one week before recess to secure procedural vote on landmark crypto bill; White House response to ethics compromise is key.
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The Senate has one week before its August recess to clear the first procedural hurdle for the Digital Asset Market Clarity Act. As of Wednesday, leaders had not filed a motion to proceed, the step needed to bring the bill to the floor.
Industry participants said a procedural vote this week could set up final consideration after lawmakers return in September. That outcome depends on a White House response to a revised ethics proposal submitted last week by Senators Ruben Gallego and Thom Tillis. As of Friday afternoon, the administration had not replied.
Ethics language remains the primary sticking point. Sources familiar with the negotiations said other issues – stablecoin reserve requirements, yield provisions, law enforcement authority and CFTC jurisdiction – are largely settled and would be resolved quickly if the White House signs off.