XRP
US Senate Prepares for Procedural Cloture Vote on CLARITY Act
The US Senate is set to vote on proceeding with crypto legislation, with Republican backers requiring Democratic support amid ongoing negotiations over ethics provisions.
The US Senate has scheduled a cloture vote on the motion to proceed to H.R. 3633, known as the CLARITY Act, for Tuesday, September 15. The procedural threshold requires 60 votes to open formal debate on the legislation. With Republicans holding 53 seats and two expected to oppose the measure, supporters require backing from at least nine Democrats or independents.
Senate Democratic leader Chuck Schumer called a caucus meeting on September 13 to discuss the bill. Key discussions center on ethics rules governing digital asset sponsorship by public officials and their families, with Democrats seeking stronger restrictions regarding holdings related to World Liberty Financial. White House adviser Patrick Witt stated on September 12 that the administration had accepted an ethics provision, though specific details were not provided.
Other areas of the legislation remain under negotiation, including anti-money-laundering rules and provisions from the Senate Agriculture Committee. Prediction markets on Polymarket place the likelihood of the bill being signed in 2026 at approximately 18%, while Galaxy Research reduced its estimate of passage this year to 30%.
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