America's Biggest Crypto Bill Faces A Make-Or-Break Senate Vote. Here's What's At Stake.
The draft adds 126 changes and new deposit and consumer protections as Republicans try to win 60 votes for a key procedural test.
- Senate Republicans released a revised cryptocurrency bill Monday, incorporating 126 substantive changes requested by Democrats to address ethics and illicit-finance concerns ahead of Tuesday's procedural vote.
- The Clarity Act previously stalled amid concerns that cryptocurrency stablecoin rewards could compete directly with bank deposits, threatening lending to small businesses and households while banks remain opposed to the text.
- Democrats pressed for stricter ethics rules preventing public officials from profiting off digital assets, a concern highlighted after President Donald Trump disclosed $1.4 billion in earnings from World Liberty Financial in June.
- The revised bill incorporates rules negotiated by Senators Thom Tillis and Democrat Ruben Gallego, yet it remains unclear whether the legislation has the 60 votes needed to pass Tuesday's procedural vote.
- Cryptocurrency companies spent hundreds of millions lobbying to advance the legislation, but spokespeople for Gallego and Tillis did not immediately respond to requests for comment on endorsing the revised text.
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Senate Republicans Unveil Revised Crypto Bill Ahead of Critical Tuesday Vote
Senate Republicans released a heavily revised Clarity Act on Monday with new ethics, banking and consumer protections as lawmakers prepare for a pivotal procedural vote ... The post Senate Republicans Unveil Revised Crypto Bill Ahead of Critical Tuesday Vote first appeared on [your]NEWS.
Times of India
US Senate Republicans release new crypto bill text ahead of critical vote
US Senate Republicans have released a revised version of the Clarity Act, incorporating 126 substantive changes sought by Democrats. The crypto bill faces a key procedural vote on Tuesday, but its passage remains uncertain as Democrats weigh ethics safeguards and the banking industry continues to oppose provisions allowing stablecoin rewards.
CLARITY Act’s ‘final’ deal is already breaking down before tomorrow’s Senate vote
Opposition to the CLARITY Act widened on Sept. 14 as banks, Democrats, state attorneys general and developer advocates rejected key compromises. The backlash came hours after Senate Republicans released what they described as their final version of the landmark...
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