White House 'Fully Committed' to Clarity Act Vote in September

White House crypto advisor Patrick Witt on Tuesday said the Trump administration is “fully committed” to passing the Clarity Act next month. The bill heads for a Senate procedural vote on Sept. 15 at 2:15 p.m. ET.

Senate Majority Leader John Thune filed cloture on the bill before the August recess, queuing a vote when the chamber returns. The Clarity Act needs 60 votes to overcome a Democratic filibuster. Republicans hold 53 seats.

“Every time Democrats have delayed this bill, America has fallen further behind in the digital asset race,” Witt said. That has jeopardized “our leadership role in global financial markets, weakening our national security, and denying law enforcement the tools they need to stop crypto crime.”

Witt said “durable rules” can only come from legislation, not agency guidance. He urged Congress to pass the Clarity Act, adding “we also can’t afford to wait forever.” The administration remains open to negotiation until the vote, he said: “Our door remains open, and we’ll keep negotiating in good faith all the way up until the September vote.”

Senator Cynthia Lummis, a key backer, argued the legislation would help community banks rather than hurt them. Some community banks warned stablecoin provisions could drive deposit flight. Lummis pointed to Bank of America and FDIC data showing deposits rising this year, with community banks posting 5% deposit growth. Section 404 of the Clarity Act bars stablecoin issuers from paying yield that resembles bank interest, a measure Lummis said protects smaller lenders.

“Killing the Clarity Act won’t help community banks,” Lummis said. “It just protects the status quo they say is broken.”

The Banking Committee has already wrapped a nine-provision community bank package into the housing bill to help retain deposits. That package offers regulatory, capital, and examination relief for banks with under $10 billion in assets. Lummis is in discussions with Senator Josh Hawley to resolve outstanding concerns, she said.

Separately, the SEC scheduled a meeting for Aug. 14 to consider new rules for crypto investment contracts under Chair Paul Atkins’s Reg Crypto vision. That rulemaking could proceed regardless of the Clarity Act vote, the bill would supersede agency-level definitions if passed.

The Senate has roughly 15 working days after Sept. 15 before the November midterm elections begin to dominate the calendar. Trump is also pushing for passage of the SAVE America Act, which could compete for floor time. The Clarity Act must clear cloture and final passage within that narrow window or face an uncertain path next year.

The procedural vote is set for Sept. 15 at 2:15 p.m. ET. If cloture is invoked, the Senate will vote on final passage within days. For broader crypto market context, see our crypto market analysis.