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 on Monday, incorporating 126 substantive changes requested by Democrats to address ethics and illicit-finance concerns.
- The Clarity Act previously stalled amid concerns that stablecoin rewards could compete directly with bank deposits, threatening lending capabilities; Banks remain opposed to the revised text.
- Democrats pressed for stricter ethics rules regarding public officials profiting from digital assets, an issue highlighted after President Donald Trump disclosed $1.4 billion in earnings from World Liberty Financial.
- The bill incorporates rules from Senators Thom Tillis and Democrat Ruben Gallego, though it remains unclear if the legislation has the 60-vote threshold required for Tuesday's procedural vote.
- Cryptocurrency companies spent hundreds of millions of dollars lobbying to advance the legislation, yet spokespeople for Gallego and Tillis did not immediately respond to requests for comment on their endorsement.
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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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