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Thune files cloture to advance CLARITY Act, Senate vote set for Sept. 15
The cloture motion requires 60 votes, meaning Republicans will need support from at least seven non-Republicans for the procedural step.
Cointelegraph reports that US Senate Majority Leader John Thune filed cloture on a motion to take up the Digital Asset Market Clarity Act, also known as the CLARITY Act, setting a key procedural vote for September.
The vote is expected after the Senate reconvenes on Sept. 15, giving lawmakers time to resolve disputes that prevented an agreement before the August recess.
According to Cointelegraph, invoking cloture requires 60 votes, so Republicans will need Democratic support to clear the procedural hurdle. The Block adds that the vote is expected on Sept. 15, the day after the chamber returns, and that at least seven non-Republicans will need to back the motion.
Cointelegraph says negotiations have been complicated by disagreements over ethics provisions and rules governing stablecoin rewards. The outlet describes the CLARITY Act as a landmark effort to establish a federal market structure for digital assets, clarify whether they fall under securities or commodities laws, and delineate oversight roles between the Securities and Exchange Commission and the Commodity Futures Trading Commission, while the cloture step does not guarantee final passage.