Senate to Vote on CLARITY Act in September
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- Thune filed cloture to schedule a September Senate vote on whether to take up the CLARITY Act, though the procedural step would not guarantee passage.
- The CLARITY Act would establish a federal market structure for digital assets, determine when crypto falls under securities versus commodities law, and divide oversight between the SEC and the CFTC.
- Ethics provisions restricting government officials and their families from issuing or profiting from digital assets while in office have stalled negotiations over the bill until now.
- Lawmakers are working on a bipartisan ethics addendum aimed at addressing Democratic concerns over President Trump's crypto-related financial interests.
- Bloomberg reported Thursday that the proposed addendum would require the president to divest from certain crypto-related businesses.
Why it matters: A successful September cloture vote would be the bill's first procedural win after months of deadlock, and the proposed presidential divestiture requirement is the hinge that could determine whether Democrats back the bipartisan ethics fix enough to clear a floor vote.
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