The U.S. Senate has initiated the process for considering the CLARITY Act, setting up an initial procedural vote after lawmakers return from their August recess.
Summary
- Senate leadership filed a motion to begin considering the CLARITY Act late Friday.
- The procedural step positions the bill for an initial vote in September.
- Negotiations remain divided over ethics, enforcement and stablecoin rewards.
- The legislation needs 60 Senate votes to overcome the chamber’s cloture threshold.
CLARITY Act moves toward September vote
Senate Majority Leader John Thune submitted the motion after a late-night voting session, according to reports released Saturday. The timing prevented the Senate from holding a procedural vote before lawmakers began their August recess.
The filing nevertheless allows leadership to place the crypto market structure bill near the front of the Senate’s September agenda. Senators are expected to return to Washington on Sept. 14.
Thune had previously confirmed that the chamber would not vote on the legislation before the recess but said leaders intended to prepare it for action upon their return.
“We’re getting that queued up first thing when we come back,” Thune said in a statement reported before the recess.
An initial vote would concern whether the Senate should proceed with consideration of the legislation. It would not amount to final passage. Senators would still need to debate the bill, consider amendments and hold a separate vote on approving the final text.
Unresolved disputes could block progress
The procedural filing does not indicate that Republicans and Democrats have reached an agreement on the provisions that delayed the August vote.
Lawmakers remain divided over ethics restrictions covering government officials’ crypto interests, enforcement powers, illicit-finance safeguards and stablecoin rewards. Democrats have sought stronger conflict-of-interest rules and additional consumer protections.
Sen. Elizabeth Warren has said she supports federal crypto legislation but opposes the current CLARITY Act. She cited concerns involving government corruption, consumer protection, national security and financial stability.
Stablecoin rewards remain another major obstacle. Banking groups have pushed lawmakers to restrict payments offered for holding stablecoins, arguing that such products could pull deposits from traditional banks. Crypto companies maintain that broader restrictions could reduce competition.
The current compromise would restrict passive yield paid solely for holding stablecoins while allowing certain rewards tied to customer activity. crypto.news previously reported that changes to these rules could affect Coinbase’s USDC rewards business, which generates an estimated $1.35 billion in annual revenue.
Bill would divide SEC and CFTC authority
The CLARITY Act would establish a federal framework for determining when digital assets fall under the authority of the Securities and Exchange Commission or the Commodity Futures Trading Commission.
The House passed an earlier version of the bill by a 294–134 vote in July 2025. The Senate Banking Committee later advanced its version 15–9 in May 2026, with Republicans joined by Democratic Sens. Ruben Gallego and Angela Alsobrooks.
However, clearing the committee did not guarantee sufficient support on the Senate floor. Thune would generally need 60 votes to invoke cloture and limit debate, requiring support from several Democrats.
Without the legislation, U.S. crypto companies would continue operating under the existing combination of SEC and CFTC oversight, court decisions and state-level requirements.
Crypto markets hold steady after Senate filing
Bitcoin traded near $64,980 on Saturday, up about 0.4%, after moving between approximately $64,507 and $65,312.
Crypto-related stocks also finished Friday higher. Coinbase closed at $153.60, gaining about 5.7%, while Circle ended the session at $66.67, up roughly 5.4%. Those moves followed broader market trading and cannot be attributed solely to the Senate development.
The next test will come when senators return in September. Lawmakers must settle the remaining policy disputes and secure enough bipartisan support before the bill can advance beyond its initial procedural vote.
