Bitcoin, XRP and Ethereum are recovering after Senate Republicans unveiled what they described as their final offer on the Clarity Act.
It contains major concessions that could finally secure Democratic support ahead of Tuesday's crucial vote.
Bitcoin is currently changing hands close to the $77,700 level after moving back into positive territory. XRP has also recovered following its recent weakness. Meanwhile, ETH has returned to the $2,500 area.
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The market could be on the verge of the most significant breakthrough yet in the months-long negotiations over the landmark market structure bill.
Major Clarity Act breakthrough
Senate Republicans released a new 635-page version of the Clarity Act late Sunday. It contains a White House-backed ethics provision and several other changes demanded by Democrats.
A Republican aide described the new version as the party's "last, best and final offer on the Clarity Act to Democrats."
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According to Politico reporter Eleanor Mueller, roughly 80% of the ethics proposal developed by Senators Thom Tillis and Ruben Gallego was taken into account in the new version.
Senator Cynthia Lummis said the revised legislation incorporates more than 120 Democratic demands.
"After a year of intense daily bipartisan negotiations, this bill is ready," Lummis said.
A Republican aide said the change gives Democrats "north of 90%" of what they had sought on that issue.
Tuesday vote remains crucial
The Clarity Act has not yet secured enough votes to advance. The Senate is scheduled to hold a procedural vote on Tuesday.
As reported by U.Today, a group of Democratic senators had spent months negotiating over government ethics, stablecoins, and other provisions.
The odds of the Clarity Act passing this year have surged above 30%, according to Polymarket data.
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