Senate set for key vote on Clarity Act as crypto industry lobbies for support
Clarity Act sets crypto rules and tackles ethics concerns in a key Senate vote See what changed, why Democrats and banks are divided, and what comes next
The Senate is scheduled to hold a crucial procedural vote Tuesday on the Clarity Act, a bill that would create a new regulatory framework for cryptocurrencies and other digital assets. The measure has been stalled for months, and supporters still need enough Democratic backing to overcome a filibuster.
The main obstacles are ethics concerns tied to President Donald Trump’s crypto interests and banking industry objections to the bill’s stablecoin provisions. Democrats want stronger ethics safeguards, while banks say the current language could encourage deposit flight from traditional lenders.
Republican leaders have circulated updated text in an effort to win votes, including changes they say address ethics concerns and a compromise on stablecoin yield. Even if the bill advances on Tuesday, more negotiations and amendments would still be needed before final passage.