Senator Tillis said the White House is reviewing ethics language line by line. Thune declined cloture, leaving a narrow window for a vote before the August recess.
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The White House is reviewing the latest ethics draft of the crypto Clarity Act, Senator Thom Tillis said, as negotiators race against the clock to secure a Senate vote before the August recess.
Tillis said bipartisan language sent to the White House last week is being reviewed line by line. “We’ve got people working with White House right now… they’re going through some of the lines right now,” he told reporters, according to Punchbowl News.
The review comes after Senate Majority Leader John Thune declined to file cloture on the crypto market structure bill Wednesday afternoon. Thune told reporters earlier in the day he still hoped for a vote before the break. Republican and Democratic staff held a flurry of meetings over the prior 24 hours to resolve remaining disagreements, Punchbowl reported.
Senator Cynthia Lummis accused Democrats of deliberately holding back the bill. Tillis, who has worked with Democrats on ethics language, said the odds of a vote hinge on whether the Senate stays in Washington past its scheduled Thursday departure.
“If we were getting out on schedule, which would be tomorrow afternoon, I think it’d be a moonshot at this point,” Tillis said. “But there’s still a chance if we’re going to be delayed, particularly if we have to go into next week.”
Momentum is building outside the chamber. South Carolina Republican Darline Graham posted on X in support of swift passage, framing the Clarity Act as central to President Trump’s push to keep digital-asset innovation in the U.S. She said the Senate needs to deliver a bill that protects consumers, arms law enforcement, and gives the industry regulatory certainty.
If cloture is filed Thursday, a floor vote could come this weekend. The odds of passage have already fallen after Senate delays, as CLARITY Act odds sink to 27% following the missed vote. Some lawmakers warn that a further delay risks ceding the U.S. crypto lead, as Haridopolos cautioned last week.
Tillis declined to predict what the White House review would produce but said negotiators are “working through some of the lines.” The Senate is scheduled to break Thursday or Friday for five weeks.
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