Phyrex|Sep 15, 2026 19:21
The advancement of the CLARITY bill is hindered
The US Senate is conducting a procedural vote on H.R. 3633, the Clarity Act for Digital Asset Markets. From the current on-site reports, it appears that the progress of the 50-49 bill is hindered.
The most critical threshold this time is 60 votes. The Republican Party has 53 seats, and even with full support, it requires at least 7 votes from Democratic or independent lawmakers. If two or three Republican lawmakers oppose, the cross party support that needs to be sought will rise to 9 to 10 votes.
Previously, during the Senate Banking Committee stage, only two Democratic lawmakers, Gallego and Alssobrooks, supported advancing the bill.
From the negotiations before the vote, the main differences are concentrated in three aspects.
Firstly, the restrictions on the encryption benefits of public officials have not yet been negotiated.
The Democratic Party hopes to establish enforceable constraints on the interests of public officials such as the President and related families. The new version has added asset disposal requirements and granted state attorneys general some ethical enforcement powers, but the Democratic Party still questions whether these provisions can directly bind the president and whether there are exceptions that allow officials to retain their interests in the cryptocurrency business.
Secondly, the returns of stablecoins touch upon the deposit interests of banks.
Community banks and other institutions are concerned that the interest, returns, and rewards of stablecoins may attract deposit outflows, thereby affecting local lending capabilities.
The new version proposes to take restrictive measures after the loss of deposits, but the banking industry believes that intervening only after a large amount of deposits have already flowed out is still insufficient in terms of protection. This also creates a variable in the support of some Republican lawmakers.
Thirdly, there are still multiple conflicts between developer responsibilities and law enforcement authorities.
The extent of protection that DeFi developers should receive and which platforms need to bear regulatory responsibilities are controversial. At the same time, 18 state and District of Columbia attorneys general, including New York, have signed a petition opposing the existing text, fearing that the bill would weaken their power to combat cryptocurrency fraud under current laws.
Gambling organizations are demanding further restrictions on the provision of sports event contracts in the prediction market. The terms that different organizations wish to modify vary.
At present, the probability of achieving the CLARITY Act by 2026 is already very low.
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