The U.S. Senate is scheduled to hold a procedural vote on the CLARITY Act on September 15, but the legislation still lacks publicly declared support from any Democratic senator. The bill requires 60 votes to advance, meaning at least six Democratic votes are needed while Republicans hold 53 Senate seats.

The revised 630-page bill incorporates more than 114 provisions requested by Democrats, although disputed ethics rules remain largely unchanged. Prediction platforms Polymarket and Kalshi place the odds of the legislation passing by the end of the year near 20%.

White House Officials Urge Bipartisan Support

Patrick Witt, executive director of the White House Digital Asset Advisory Council, warned that a failed motion-to-proceed vote could close the current legislative window. In comments to Semafor, Witt said the result would satisfy neither party and questioned when lawmakers might have another opportunity to reconsider the measure.

Treasury Secretary Scott Bessent separately urged senators to approve the procedural motion. He warned that failing to move forward would weaken U.S. leadership in digital assets.

The CLARITY Act would establish a regulatory framework for digital assets and divide oversight responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Its provisions on non-decentralized finance protocols would also determine when certain protocols must register and which agencies would develop related requirements.

Revised Text Keeps Ethics Rules at Center of Dispute

Sen. Cynthia Lummis released the revised 630-page version after incorporating more than 114 provisions requested by Democratic lawmakers. The legislation also contains rules covering non-decentralized finance protocols.

Under the revised text, protocols whose functions, operations, or rules can be materially changed by one person or a coordinated group would be subject to registration requirements. The bill directs the CFTC and the Treasury Department to develop rules for those protocols. It also instructs regulators to assess requirements involving securities, commodities, and anti-money laundering.

However, the revised legislation leaves major ethics provisions largely unchanged. Democratic lawmakers have identified those provisions as a central obstacle to passage. The Justice Department would retain primary authority for enforcing conflict-of-interest rules.

Passage Prospects Remain Uncertain

Politico reported that the revised bill continues to lack public Democratic support. Polymarket and Kalshi both estimate the chances of passage before year-end at approximately 20%.

The legislation passed the House in July after being introduced in May 2025. If the Senate rejects the procedural motion, lawmakers could revisit the measure during the lame-duck session or under a future Congress.

Witt and Bessent have urged lawmakers to continue negotiations before September 15. The upcoming procedural vote is the bill’s immediate legislative test, while the unresolved ethics provisions remain a key issue for senators considering whether to support it.

Source: Cryptofrontnews